Al Khair National Co. for Stocks and Real Estate, Kuwait Food Co -Americana major shareholder, negated the stumble of the sales plan of major stake in Americana.

The negations regarding the deal are still ongoing with the different related parties, said an official statement by Al Khair National.The company is studying strategic alternatives to evaluate its investments in Americana, added the statement.

The company didn't receive any mandatory offers so far, indicated the statement.

Earlier reports circulated that the deal was close to being put on hold, as talks were faltering partly because of differences on price.

Late 2014, Al Khair National revealed that were ongoing preliminary discussions with number of investment parties, regarding selling its 66.80% stake at Americana.

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.

On early September well-informed sources revealed that Saudi -based Savola Group has appointed JPMorgan Chase & Co to advice on a potential bid of around $4.3 billion for Kuwait Food business - Americana.

Americana in its turn , 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 Co. for Stocks and Real Estate, Kuwait Food Co -Americana major shareholder, negated the stumble of the sales plan of major stake in Americana.