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Kuwait's NIC says hired to execute $2.4bn Americana deal
October 5, 2016, 2:45 pm

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 foods.

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