Dangote’s KPC stake and the fight ahead

Oil storage tanks at the Kenya Pipeline Company, Industrial Area, Nairobi.

Photo credit: File | NMG

When I met Dr Kenne Belgrade, the emerging dealmaker who closed the $300 million block transaction transferring a 24.7 percent stake in Kenya Pipeline Company (KPC) to the Dangote Group, the first thing I sought was a breakdown of the deal.

If you are interested in numbers and facts, he thundered, the first point you must agree with is that no money was lost and that investors who bought KPC shares did not lose a dime.

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Note: The results are not exact but very close to the actual.