Kuwait's Americana still in talks for sale -bourse filing

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Talks are still underway with several parties for a sale of the business of Kuwait Food Co (Americana), the company's biggest shareholder said on Thursday. Americana, backed by Kuwait's billionaire al-Kharafi family, operates franchises for restaurant chains including KFC and Pizza Hut around the region. Private equity funds KKR and CVC have been among the main contenders for the business in a lengthy bidding process that has also attracted interest from Saudi food producer Savola Group. "Talks are still ongoing with several parties and we are still in the process of looking into our strategic options to evaluate our investments in Kuwait Food Co," Al Khair National for Stocks and Real Estate Co, an entity owned by the Kharafi family, said in a letter filed by Americana to the bourse.

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