Adaptio agrees to acquire majority stake in Kuwait’s Americana for $2.4bn

By bne IntelliNews June 20, 2016

Adaptio, an investment vehicle for a group of investors led by Dubai businessman Mohamed Alabbar, reached a final agreement to purchase a majority 69% stake in Kuwait Food Co (Americana) for $2.4bn, Reuters reported.

Americana owns the Middle East franchises for a number of fast food chains such as KFC and Pizza Hut and produces branded consumer foods as well. Following the completion of the stake takeover, which is the crown jewel in the business empire of Kuwait’s Kharafi merchant family, Adaptio will be obliged to make a mandatory takeover offer for the remaining Americana shareholders.

The offer ought to be made at the KWD2.65 per share offered to the Kharafis, representing a 26% premium over the last quoted market price at the time of the announcement of the acquisition.

Adaptio is in talks to finance the deal through securing $1.5bn bridge loan from a group of banks including First Gulf Bank, Emirates NBD, Credit Suisse and Standard Chartered.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Xlinks warns cost of Morocco-UK Power Project could rise some 25% to reach $30bn

UK renewable energy producer Xlinks, noting significant upward pressure on the cost of all energy projects, has warned that construction of the Morocco-UK Power Project could reach $27bn to $30bn, up ... more

Morocco in talks with investors to build EV battery gigafactories, says minister

The Moroccan government is in extensive talks to attract more electric vehicle (EV) battery manufacturers to support its growing automotive sector and meet soaring demand, industry and trade minister ... more

UAE’s Masdar, Uzbekhydroenergo partner up to evaluate potential of national hydro power storage

United Arab Emirates renewable energy company Masdar has partnered with Uzbekhydroenergo to evaluate the potential of national hydroelectric power storage projects. Masdar and Uzbekhydroenergo, a ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. Russia’s war economy boosted by rising oil prices
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss