Kuwait Food Co -Americana said its major shareholder Al Khair National for Stocks and Real Estate has recently appointed number of advisers and financial consultants to look at different strategic options, which included action related to its holding in one of the Gulf's largest food firms.

Al Khair National for Stocks and Real Estate Co is owned by the al-Kharafi family, the majority shareholder in Americana.

Americana has submitted a request to Kuwait bourse today September 17 in order to suspend trading of its shares as precautionary action to immunize the company's stocks against any an expected price fluctuations.

Noteworthy, Saudi Arabia's Savola Group confirmed in a recent statement to the Saudi bourse that it has appointed JP Morgan to advise on its potential purchase of a stake in Kuwait Food Co (Americana).

In contrary, Americana assured in an official statement to Kuwaiti bourse that it has no knowledge of any talks with Saudi Arabia’s Savola Group on a possible acquisition of Americana.

However, Savola indicated that it has not unveiled this move because of not signing a memorandum of understanding (MoU) about this potential purchase deal.

The bid news were initially broke in April stating that Americana majority shareholder the Al Kharafi family was working with investment bank Rothschild to approach potential buyers.