Kuwait's Americana says no knowledge of any suitors

Reports have speculated private equity firms were among those looking to buy a majority stake in the food retailer.
By Reuters
Sun 06 Jul 2014 04:03 PM

Kuwait Food Co (Americana) said on Sunday it had no knowledge of any firms interested in buying its business, contrary to recent media reports.

"The administration of the company has no knowledge of this matter. The administration of the company has also not received any offers regarding it," the firm said in a bourse filing.

Last week, Bloomberg reported private-equity firms KKR & Co LP and TPG Capital were among groups looking to buy a majority stake in the food retailer. It cited unnamed people familiar with the matter.

Reuters reported in April that the Al Kharafi family, the billionaire majority shareholder in Americana, had hired investment bank Rothschild to help sell the business.

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