DUBAI Oct 5 Kuwait's National Investments Co
(NIC) said on Wednesday it was appointed to execute
the purchase of a majority stake in Kuwait Food Co on
behalf of one of its clients.
Adeptio, an investment group led by prominent Dubai
businessman Mohammed Alabbar, is paying $2.4 billion to buy a 69
percent stake in Kuwait Food Co from the Kharafis, a
wealthy Kuwaiti merchant family.
NIC will execute the purchase of 268 million shares of
Kuwait Food Co, also known as Americana, at 2.650 dinars a
share, NIC said in a bourse statement on Wednesday.
Americana owns the Middle East franchises for fast food
chains KFC and Pizza Hut and also produces branded consumer
(Reporting by Ahmed Hagagy, Writing by Hadeel Al Sayegh;
Editing by Andrew Torchia)