Kuwait Food Co. – also known as Americana – has denied knowledge of any firms interested in buying its business.
Last week, Bloomberg claimed at least six companies were exploring bids for Americana, including private-equity firms KKR, TPG, CVC Capital Partners and Advent International.
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However, Reuters reported on Sunday (6 June) Americana had issued a statement on the Kuwait Stock Exchange to say it had “no knowledge” of any interest in the business.
“The administration of the company has no knowledge of this matter. The administration of the company has also not received any offers regarding it,” the firm was reported as stating.
Officials at Americana could not be reached for immediate comment.
Reuters initially broke the news in April that Americana majority shareholder the Al Kharafi family was working with investment bank Rothschild to approach potential buyers.
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By GlobalDataCVC Capital Partners, Advent International and TPG declined to comment when approached by just-food.
The sale is expected to fetch about US$5bn.
