Kuwait Food Co (Americana) is back in talks to sell a majority stake to a group of Gulf investors after negotiations collapsed recently due to valuation issues, reports Arabian Business.
Americana has been up for sale since early 2014.
Investment firm Adeptio, led by prominent Dubai businessman Mohamed Alabbar, in February agreed to buy 69% of Americana, which owns the Middle East franchises for fast food chains KFC and Pizza Hut and also produces branded consumer foods, from Al Khair for Stocks and Real Estate, which is controlled by the Kharafis, a wealthy merchant family.
The sale process collapsed at the end of May, however sources have indicated that talks are now restarting between the two parties.
Al Khair's 69% stake is currently valued at around $1.9 billion, according to Reuters' calculations.
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