RIYADH: Saudi Arabia's Savola Group has appointed JP Morgan to advise on its potential purchase of a stake in Kuwait Food Co (Americana), the Jeddah-based firm said on Tuesday.
Savola previously said in August it had held preliminary talks with one of Americana's largest shareholders about buying a stake in the rival food producer.
At the time, Savola did not name the shareholder, but Kuwait's al-Kharafi family owns 67 percent of Americana, according to Reuters data.
In Tuesday's bourse statement, Savola also said it had not yet signed any agreement to invest in Americana. (Reuters)
