Kuwait Food Co. has reportedly confirmed major shareholder, Al Khair National for Stocks and Real Estate Co., is in preliminary talks with “various parties” to sell its stake in the business.

According to Reuters, Al Khair did not identify the firms it was in talks with. It has also “stressed that no final agreement” has been reached.

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Al Khair is owned by the Al-Kharafi family which controls Kuwait Food Co., which trades as Americana. In September, Kuwait Food Co. spoke out regarding a change in ownership, confirming tht Al Khair was reviewing its portfolio including its stake in the food company – the first time it commented since speculation broke out about its possible sale earlier this year.

Saudi’s Savola Group in August announced it had held talks with the firm. Other companies that have been linked to the sale include private equity companies TPG Capital, Advent International, KKR and CVC.

Last month, Brazilian food firm BRF rejected press rumours it was in the running to acquire Americana.

Americana could not be reached for comment today (5 November) when approached by just-food.

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