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Alabbar-led group's US$1.8b Americana deal collapses

Published Sun, May 29, 2016 · 09:50 PM
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Dubai

A DUBAI-based investor group led by Emaar Properties PJSC chairman Mohamed Alabbar failed in its attempt to buy a 69 per cent stake in Middle Eastern fast-food operator Kuwait Food Co, the latest twist in an on-off sale process stretching back at least two years.

"A final agreement has not been reached between Al Khair and the buyer, Adeptio, for all of Al Khair's shares in Americana," Al Khair National for Stocks and Real Estate LLC said in an e-mailed statement on Sunday. "Therefore, the two sides have agreed to end negotiations."

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