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Why administrators eye key TransCentury unit revival
TransCentury Plc Chairman, Shaka Kariuki (centre) glances at the company’s 2022 annual report and financial statement with TransCentury CEO Ng’ang’a Njiinu (left) and Company Secretary Virginia Ndunge (right) during the company’s virtual 25th Annual General Meeting held at the Nairobi Securities Exchange.
PricewaterhouseCoopers (PwC), the controllers of TransCentury Plc, currently under receivership, have opened a window for the possible revival of the firm’s subsidiary AEA Limited, which specialises in diversified solutions in infrastructure, weighing equipment, energy, and other sectors, citing its growth potential.
The joint administrators of TransCentury, George Weru and Muniu Thoithi, have invited interested investors to explore recapitalising, refinancing the company’s debts to sustainable levels, or acquiring AEA Limited’s assets.
