Adeptio to take over Americana

Gulf investment group Adeptio plans to undertake a mandatory takeover offer of shares in Kuwait Food Company (Americana), it said.

The disclosure to the Kuwait stock exchange came after the group bought a 66.79 per cent stake in Americana through an auction process.

Adeptio AD Investments “is committed to “undertake to follow the procedures to execute the mandatory takeover operation”, the group said.