Browsing: Jubilee Holdings Ltd (JHL)

The sale of a 54.15 per cent ownership in Jubilee Holdings’ Mauritian subsidiary to insurance industry titan Allianz SE is likely to be finalised within the next month.

At this point, Jubilee Holdings would be entitled to a payment of US$2.3 million (KShs. 270 million).

  • Jubilee Holdings will get Sh270 million from the sale of its Mauritian subsidiary to Allianz SE next month
  • Upon completing the Mauritius sale, Jubilee will have collected a total of Sh7.75 billion. Allianz would also invest Sh3 billion as the biggest stakeholder in the businesses
  • Allianz is set to  acquire a 66 per cent stake in Jubilee Insurance Company of Mauritius Limited

Allianz will buy additional shares from Aga Khan Fund for Economic Development SA (AKFED), which will then sell its ownership of 11.85 per cent of Jubilee Insurance Company of Mauritius Limited to it. This will allow Allianz to acquire a total stake in …