The Public Investment Fund (PIF) is planning to buy a 50% stake in Adeptio, the Gulf-based investment firm, which had recently acquired 67% of Kuwait Food Co. (Americana) (FOOD.KK). The PIF plans to purchase 50% of Adeptio from Mohamed Alabbar, who would retain ownership of the remainder of the company. The deal is part of PIF’s strategy to invest in non-oil sectors and build a portfolio with greater geographical and asset-class diversification. No further details regarding the value of the deal were disclosed. (Bloomberg)
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