Kuwait’s Americana says major shareholder mulling stake options

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Kuwait Food Co (Americana) asked for its shares to be suspended on the Kuwaiti bourse on Wednesday after its main shareholder said it was reviewing its portfolio, including its stake in the firm.

Americana said Al Khair National for Stocks and Real Estate Co was working with unidentified financial and legal advisers to look at its strategic options, which included action related to its holding in one of the Gulf’s largest food firms.

The firm is owned by the al-Kharafi family, the majority shareholder in Americana.

The food maker has been in focus since Reuters reported in April that the Kharafis, a billionaire merchant family with 66.8 percent of the firm, had hired investment bank Rothschild to explore a possible sale.

 

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