An unknown buyer made an offer to acquire F&B Venture Holding S.A.L from Danah Al Safat Foodstuff Company K.P.S.C. (KWSE:DANAH) for $85 million on March 2, 2017. An unknown buyer signed a contract to acquire F&B Venture Holding S.A.L from Danah Al Safat Foodstuff Company K.P.S.C. on May 10, 2017. The transaction was approved by the board of Danah Al Safat Foodstuff Company on March 5, 2017 and has authorized the executive department to place a study for recognizing the financial impact from this deal. The transaction is subject to approval by the shareholders of Danah Al Safat Foodstuff Company at the extraordinary general meeting (EGM). The board of Danah Al Safat Foodstuff Company recommends the sale to the shareholders and clarified that the no financial impact will be registered in the financial statements of fiscal year 2017, as the company reported in fiscal year 2016 income statements a loss of KWD 1.83 million ($6 million) which was considered the financial impact from this deal. The shareholders of Danah Al Safat Foodstuff Company approved the deal in May 2017.