Adeptio says committed to mandatory takeover offer for Americana shares
The disclosure came after the Gulf investment group on Thursday bought a 66.79% stake in Americana through an auction process
DUBAI: Gulf investment group Adeptio plans to undertake a mandatory takeover offer of shares in Kuwait Food Co (Americana), it said in a bourse filing on Sunday. The disclosure to the Kuwait Stock Exchange came after the Gulf investment group, led by prominent businessman Mohammad Alabbar, on Thursday bought a 66.79 per cent stake in Americana through an auction process. Adeptio AD Investments “is committed to the regulations on mandatory acquisition”, and “undertakes to follow the procedures to execute the mandatory takeover operation”, the group said in Sunday’s statement. Adeptio did not provide further information, such as the timing of the mandatory takeover offer. (Reuters)
