Kuwait’s Americana Group denies talks on acquisition by Saudi Savola

Kuwaiti Food Company (Americana) denied talks with Saudi Arabia’s Savola on a possible acquisition of Americana or any development that requires disclosure, the company said in a statement to the Kuwaiti bourse.

The talks were focused on opportunities of cooperation in certain markets, it added.  Americana is not a party to the disclosure agreement governing companies listed in the Saudi Stock Exchange, the company said.

Saudi Savola has said recently that it had started preliminary talks on a possible take over of Americana, according to Argaam.