MIDEAST STOCKS-Kuwait Food hits record high after Savola starts takeover talks | Reuters:
"Shares in Kuwait Food Co (Americana) hit a record high on Wednesday after Saudi Arabia's Savola Group said it was in preliminary talks to acquire the firm. But Middle East markets were mostly lacklustre as a summer lull deepened.
Shares in Americana, majority owned by the al-Kharafi family, rose 2.6 percent while National Investment Co - another Kharafi company - climbed 5.3 percent.
Savola, a producer of cooking oil, sugar and other foodstuffs, said in a statement to Riyadh's bourse that it had started preliminary talks on a potential acquisition of the Kuwaiti manufacturer, which has a market capitalisation of about $4.4 billion. Savola's shares added 0.7 percent."
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