Mubasher: The board of Danah Al Safat Foodstuff agreed in principle to sell its stakes in two companies with a total value of KWD 950,000 ($3.13 million), the company said in a statement to Boursa Kuwait on Sunday.

On Thursday, the company announced receiving two offers to acquire its stakes in Light Food Company and Egyptian Dairy and Foodstuffs (Edafco).

The Kuwaiti company has received a purchase offer from Alteco Company to buy its entire stake in Light Food Company, representing 50% of the company, for KWD 450,000 ($1.5 million), in addition to receiving an offer from Lebanon’s F&B Company to acquire its 100% stake in Edafco for KWD 500,000 ($1.7 million).