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Danah Al Safat rejects offer to buy Lebanese firms

Danah Al Safat rejects offer to buy Lebanese firms
F&B Venture Holding is a subsidiary of Danah Al Safat (Photo Credit: Arabianeye-Reuters)
DANAH
DANAH
0.00% 11.80 0.00

Kuwait-Mubasher: Danah Al Safat Foodstuff has rejected the UAE-based Food Society Limited’s offer of purchasing operating units in Lebanon, according to a bourse statement.

These units are both Taanayel Farms and Bonjus companies which are subsidiaries of F&B Venture Holding, a subsidiary of Danah Al Safat.

Danah’s board decided that the proposed offer does not reflect the real value for the companies’ current and future period.

Moreover, the board members agreed on a collective resignation.

Danah stock reached 102 fils, an hour before closing Monday’s session, as 7.14 million shares were exchanged with a value of about KWD 789,050.