Carbacid Investments #ticker:CARB and its majority shareholder Baloobhai Patel have made a joint bid to acquire 100 percent of BOC Kenya #ticker:BOC for Sh1.2 billion, marking the latest twist in the history of the two Nairobi Securities Exchange-listed firms.
The bid by Carbacid marks a role reversal after the company was itself the takeover target of BOC in 2005 but the proposed transaction collapsed in October 2009 on regulatory roadblocks.
