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Mergers & Acquisitions
This comes after the National Treasury exempted the digital lender from a law limiting individual shareholding in microfinance to 25 per cent.
In a gazette notice signed by the Cabinet Secretary National Treasury, Ukur Yatani, the San-Francisco based fintech has been exempted from Section 19 of the Microfinance Act (for 4 years through 2025).
Currently, individuals or single entities are barred from holding more than a 25 per cent stake in a microfinance institution.
The game has been acquired for an undisclosed price in…
Given these enabling circumstances, KKR offered to buy out RJR and reorganize the business and optimize value from its operations. This initial attempt was not warmly received, and RJR sought other investment companies to purchase it. What then ensued was what members of the investment community call putting the company in play.
This describes a scenario where one company is actively pursued by several suitors who desire to purchase it. In the end KKR triumphed albeit having paid a massive premium for the company. Unfortunately, the company did not realize the gains that it had envisaged it would.
The Nabisco operation of the company was spun off into a separate entity and the tobacco interests were also kept separate. All the gains the company anticipated it would make were swallowed up by tobacco lawsuits so that by 1994 the KKR had all but written off its investment in RJR Nabisco.
By the time Safaricom launched M-Pesa payments in 2007, the market for digital payment in…
Octagon Africa has completed the purchase of 49 per cent shareholding in Alexander Forbes Financial Services Zambia
Kenya’s top commercial law firm MMC Africa Law has teamed up with Africa’s international law…
TRACE, the global urban music television, and entertainment network have finalized the acquisition of a…
Nigeria’s largest retail lender Access Bank acquired Kenya’s Transnational Bank starting its plans to open…
UK headquartered manufacturer–Unilever Overseas Holdings B.V has gotten a major boost in its quest to…