Mauritian multinational Alteo has increased its stake in Transmara Sugar Company Limited from 51 percent to 69.2 percent at a cost of Sh973 million ahead of a proposed restructuring of the ownership structure of the miller.
The additional stake, whose purchase price values the miller at Sh5.27 billion, was acquired from Kenyan private investors who co-own the firm with Alteo, the firm disclosed in an information memorandum (IM) to shareholders detailing the proposed reorganisation.
