Cable Experts Limited (CEL) is set to acquire a 68.37 percent stake in East African Cables Plc as part of a plan to revive the troubled cable maker and settle its Sh1.94 billion debt to Equity Bank Kenya.
The Competition Authority of Kenya (CAK) has approved the acquisition, paving the way for CEL to take control of the stake held by Cable Holdings Limited, a wholly owned subsidiary of TransCentury Plc.
