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KSA Public Investment Fund acquires 50% stake in UAE Adeptio

KSA Public Investment Fund acquires 50% stake in UAE Adeptio
(Photo credit: Arabianeye - Reuters)
Americana
FOOD
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Riyadh – Mubasher: The Saudi Arabian Public Investment Fund announced on Monday that it will buy a 50% stake in Adeptio AD Holdings SPC Ltd. from the Emirati businessman Mohamed Alabbar.

The acquisition comes after Adeptio acquired 67% of Kuwait Food – Americana’s shares; while Adeptio intends to submit an obligatory acquisition offer for the rest of Americana's shares.

On 20 October, National Investments Company said that it has finalised the procedures of selling 66.790% of Americana’s shares at a value of for KWD 711.515 million to the UAE Adeptio.