DUBAI, May 29 (Reuters) - The sale of a majority stake in Kuwait Food Co
FOOD.KW
(Americana) to Gulf-based consortium Adeptio has been scrapped, the food manufacturer said on Sunday.
Adeptio had previously agreed to buy a 69 percent stake in Americana from an investment vehicle called Al Khair for Stocks and Real Estate, controlled by the al-Kharafi family, one of the Gulf state's most prominent merchant families.
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But that sale has now been cancelled, Americana said in a bourse statement.
Trading in the company's shares was halted on Sunday morning pending an announcement from the firm.
(Reporting by Matt Smith; editing by Celine Aswad) ((matt.smith1@thomsonreuters.com; 00971506354039; Reuters Messaging: matt.smith1.thomsonreuters.com@reuters.net))
Adeptio had previously agreed to buy a 69 percent stake in Americana from an investment vehicle called Al Khair for Stocks and Real Estate, controlled by the al-Kharafi family, one of the Gulf state's most prominent merchant families.
But that sale has now been cancelled, Americana said in a bourse statement.
Trading in the company's shares was halted on Sunday morning pending an announcement from the firm.
(Reporting by Matt Smith; editing by Celine Aswad) ((matt.smith1@thomsonreuters.com; 00971506354039; Reuters Messaging: matt.smith1.thomsonreuters.com@reuters.net))