The Kuwait Food Company (Americana) will compete against five other investors in a tender to acquire a 43 percent stake in the Egyptian Starch and Glucose Company, part of the Food Industries Holding Company, reported Al-Rai Al-Aam.
The Egyptian Starch and Glucose Company was offered for sale in September 2003. The Food Industries Holding Company announced the sales of 1,977,523 its shares to the highest bidder. The tender closed on November 3.
Based in Kuwait, Americana is considered one of the Middle East’s largest restaurant, food processing, distribution and food retail companies.
Founded in 1963, Americana operates in nine Middle Eastern countries and is involved throughout the Middle East in restaurant operations, food processing, food retail, and other related industries. Some of its marketed products include American products Kentucky Fried Chicken, Hardees and Pizza Hut. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
