Saudi's Savola says started initial talks on acquiring Kuwait's Americana

DUBAI Wed Aug 13, 2014 3:48am EDT

DUBAI Aug 13 (Reuters) - Major Saudi food producer Savola Group said on Wednesday it had begun preliminary talks on a potential acquisition of Kuwait Food Co (Americana) .

Savola has attended an investor roadshow held by Americana, which is one of the Middle East's largest food companies, but talks have not yet reached a stage that would require disclosure, the company said in a bourse filing.

Reuters reported in April that the al-Kharafi family, the billionaire majority shareholder in Americana, had hired investment bank Rothschild to explore a possible sale of the business. (Reporting by Nadia Saleem and Azza El Arabia; Editing by Andrew Torchia)