DUBAI Jan 9 The board of Kuwait Food Co
(Americana) said on Monday an offer from its major
shareholder Gulf investment firm Adeptio to buy out minority
shareholders at 2.650 dinars was fair, according to a bourse
Adeptio, an investment group led by Dubai businessman
Mohamed Alabbar, on Oct. 20 acquired a 66.79 percent stake in
Americana valued at 711.5 million dinars ($2.33 billion).
The consortium was then obliged to launch a mandatory offer
to buy Americana's remaining shares under Kuwaiti securities
Americana's board said that independent consulting firm
Consultia concluded that the offer price of 2.650 dinars was
fair, the statement said, and the board has endorsed the offer.
($1 = 0.3058 Kuwaiti dinars)
(Reporting by Hadeel Al Sayegh, editing by Louise Heavens)