Kirubi set to acquire half of Centum Plc following nod by CMA
In a statement, CMA says it has allowed Kirubi to acquire up to 49.99 percent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders.
The exemption, CMA said, is in accordance to its Takeovers & Mergers Regulations, which will see Kirubi progressively raise his shareholding in Centum from the current 30 percent threshold in open market transactions.
Kirubi sits on the board of Centum as a director and has been a key shareholder of the company for more than 20 years.
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