By: Ahmad Awad
Kuwait-Mubasher: Al Khair National for Stocks and Real Estate Company, a subsidiary of Kuwait Food – Americana, said that the investment consortium Adeptio failed to buy Al Khair’s 67% stake in Americana, according to a statement.

The subsidiary agreed with Adeptio to cancel the negotiations over Americana’s acquisition, the statement added.

The acquisition deal failed as the parties could not agree on the sale price, sources told Mubasher. Furthermore, the failure was due to complications over transferring the trademark of the franchise run by Americana.

It is noteworthy that the deal, worth $3.5 billion to $4 billion, was offered by the investment company representing GCC investors led by Mohammad Al Abbar, the chairman of Emaar Properties.

Translated by: Ingy ElSafy