Americana Group’s largest shareholder Al Khair National Co. (a vehicle owned by the Al Kharafi family) signed a preliminary agreement to sell its 69% stake in Americana to a UAE-based Adeptio LLC led by Mohammed Al Abbar (the Chairman of Emaar Group). The agreement is contingent upon completion of due diligence and other conditions including approval of regulatory authorities and franchisors of key fast food brands under Americana. If the deal goes through, the buyer will have to submit a mandatory tender offer for 100% of the shares of Americana. (Company disclosure)