Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
CMA has its work cut out over Carbacid-BOC deal
Faida Investment Bank operations director Rina Hicks (left) and AIB-AXYS Africa chief executive Paul Mwai skim through the Sh1.2 billion Carbacid/Aksaya Investments offer document recently issued for the 100 percent purchase of BOC Kenya. PHOTO | NMG
Carbacid Investments Plc and related party, Aksaya Investments LLP, offer to buy 100 percent of BOC Kenya Plc in November last year is a public matter.
There are some aspects of this deal I find interesting but seem to have been unappreciated. Most acquisition deals begin with the potential acquirer approaching the target company for discussion of an offer or, in a harsher manner, directly serve the latter’s board of directors with an offer that they are obliged to show the shareholders. In this case, the target company’s (BOC) majority shareholder – The Linde Group – offered to sell its entire shareholding to the potential acquirer (Carbacid Investments Plc).
