Adeptio says committed to mandatory takeover offer for Americana shares

The disclosure to the Kuwait stock exchange came after the Gulf investment group, led by prominent businessman Mohamed Alabbar, on Thursday bought a 66.79 percent stake in Americana through an auction process.

Adeptio AD Investments "is committed to the regulations on mandatory acquisition", and "undertakes to follow the procedures to execute the mandatory takeover operation", the group said in Sunday's statement.

Upon Adeptio concluding its stake purchase, the consortium was obliged to launch a mandatory offer to buy Americana's remaining shares under Kuwaiti securities rules.

Adeptio did not provide further information, such as the timing of the mandatory takeover offer.

(Reporting by Hadeel Al Sayegh; Editing by David French)