Americana Group to withdraw from Kuwait bourse

06/06/2017 Argaam

Shareholders of Americana Group (Kuwait Food Company) approved on Monday the company’s voluntary withdrawal from the Kuwait Stock Exchange (KSE).

 

The company’s new owners decided to withdraw from the bourse, and will return to it when the time is right, vice chairman, Badr Al-Jouan said following the Ordinary General Meeting.

 

Dubai-based investment consortium Adeptio owns 93.4 percent of Americana, which has operations across 13 countries and owns the Middle East franchises for fast food chains KFC and Pizza Hut.

 

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) currently holds an indirect stake in the Kuwaiti company. The PIF bought a 50 percent of Adeptio last November from the GCC consortium. 

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