Gulf investors to buy key stake in food group
A consortium of Gulf Arab investors has agreed to buy a majority stake in Middle Eastern food firm Kuwait Food Company, which operates regional franchises of KFC, Krispy Kreme and other well-known Western brands.The investor group Adeptio said in a statement posted yesterday on the Kuwait stock exchange that it has agreed to buy a stake in the company currently owned by the Al-Khair investment company.Al-Khair says Adeptio is led by Mohamed Alabbar, who is also chairman of Emaar Properties, developer of Dubai's record-breaking Burj Khalifa skyscraper. Financial details were not disclosed.
Last Update: February 04, 2016 21:14