Dubai: The Kuwait Stock Exchange has announced that no other party has entered the auction due to take place later on Thursday for a 66.79 per cent stake in Kuwait Food Co (Americana).
As a result, the exchange will complete the deal between the buyer and seller at 1245 local time (0945 GMT), the bourse said.
The exchange announced earlier this month that it would hold an auction allowing Gulf investment consortium Adeptio to complete its $2.4 billion (Dh8.8 billion) purchase of the Americana stake.
Adeptio, an investment group led by Dubai businessman Mohammad Alabbar, agreed in June to pay 2.65 dinars per share to acquire the stake currently owned by the Al Kharafis, a wealthy Kuwaiti merchant family.
Americana owns the Middle East franchises for fast food chains KFC and Pizza Hut and also produces branded consumer foods.
