Danah Al Safat Foodstuff announced receiving two offers to acquire its stakes in Light Food Company and Egyptian Dairy and Foodstuffs (Edafco).
The Kuwaiti company has received a purchase offer from Alteco Company to buy its entire stake in Light Food Company, representing 50% of the company, for KWD 450,000 ($1.5 million), according to a statement to Boursa Kuwait on Thursday.
Additionally, Danah has also received an offer from Lebanon’s F&B Company to acquire its 100% stake in Edafco for KWD 500,000 ($1.7 million).
The Kuwaiti firm’s board of directors will meet later on Thursday to discuss the two offers.
During the first quarter of 2019, Danah’s net losses fell by 21.2% to KWD 197,600, compared to KWD 250,780 in the year-ago period.