Saudi’s Savola Says Started Initial Talks On Acquiring Kuwait’s Americana

Major Saudi food producer Savola Group said on Wednesday it had begun preliminary talks on a potential acquisition of Kuwait Food Co (Americana).

Savola has attended an investor roadshow held by Americana, which is one of the Middle East’s largest food companies, but talks have not yet reached a stage that would require disclosure, the company said in a bourse filing.

Reuters reported in April that the al-Kharafi family, the billionaire majority shareholder in Americana, had hired investment bank Rothschild to explore a possible sale of the business.