Chairman of Emaar, Mohammed al-Abbar. (The Daily Star/HO)
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A Dubai-based investor group led by Emaar Properties PJSC Chairman Mohamed Alabbar plans to take a 69 percent stake in Middle East fast-food operator Kuwait Food Co. valued at $1.8 billion and said it will offer to take over remaining shares.Adeptio LLC signed an initial accord to buy the stake in Americana, as Kuwait Food is known, from Al Khair National for Stocks and Real Estate LLC, according to a company statement Thursday. The agreement culminates an on-off sale process stretching back at least two years in which Kuwait's Kharafi family had tested investor interest in the company without concluding a deal. Alabbar founded Emaar in 1997 .
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