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Saturday , August 8 2020

Food major Americana re-traded at KSE – Move follows conclusion of stake sale deal


KUWAIT CITY, June 19, (KUNA): Nutrition giant Americana’s shares returned to trading on Sunday after the company’s clarification about a sales deal between Al Khair National for Stocks Real Estate Company and UAE’s ADEPTO Company.

The company’s shares received offers worth KD 2,200, but no offers and transactions were made.

Americana had announced in a statement on the KSE website the conclusion of a sales deal between Al Khair National for Stocks Real Estate Company and ADEPTO Company, at the price of KD 2.65 per share.

Both companies will be notified by the Capital Markets Authority (CMA) about all necessary procedures in order to complete the transaction, the statement added.

Americana deal is in line with the regulations and laws of the stock market, reports Al-Qabas daily quoting Kuwaiti lawyer and businessman Loai Al-Kharafi.

Speaking to the daily, Al-Kharafi confirmed that Al Khair National for Stocks and Real Estate Company complied with the transparency rules in all phases of its cooperation with ADEPTO Company led by Mohammad Al-Abaar.

He pointed out this is a historic deal and the source of pride for the entire nation, considering it will reinvigorate the national economy.

In conclusion, he asserted the financial situation of Al-Kharafi Group remains strong and the Americana deal will open new horizons for the group.


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