BOC gets more time to assess Sh1.24bn takeover bid
Friday January 22 2021
A BOC worker prepares cylinders for refill at the company’s Industrial Area plant. FILE PHOTO | NMG
By PATRICK ALUSHULA
The BOC Kenya #ticker:BOC board has been given additional time to value the firm and give shareholders an opinion on the Sh1.24 billion takeover offer that was made by its rival, Carbacid Investment #ticker:CARB, and its majority shareholder Baloobhai Patel in late November.
The Nairobi Securities Exchange-listed gas producer said Friday morning that it has received approval from the Capital Markets Authority to extend the deadline of serving its shareholders with the takeover documents and an independent advisor opinion from January 25 to February 5.
Jubilee plans expansion of life, medical business after Allianz deal
Monday January 11 2021
By VICTOR JUMA
Summary
The Nairobi Securities Exchange-listed firm is selling majority stakes of between 51 percent and 66 percent in its short-term insurance units in Kenya, Uganda, Tanzania, Burundi and Mauritius to Allianz.
The company says in a circular to shareholders that it will use the cash raised from the transaction to buy securities and invest more in its life and medical businesses.
Jubilee Holdings #ticker:JUB plans to expand its life and medical business using the Sh7.7 billion it will receive in its deal with Munich-based insurance giant Allianz SE.