Kuwait's National Investments Co. (NIC) said that it was appointed to execute the purchase of a majority stake in Kuwait Food Co. for its clients. Adeptio, an investment group led by prominent Dubai businessman Mohammed Alabbar, is paying USD2.4bn to buy a 69% stake in Kuwait Food Co. from the Kharafis, a Kuwaiti merchant family. NIC will execute the purchase of 268 mn shares of Kuwait Food Co., also known as Americana, at 2.650 dinars a share. (Reuters)
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