Kenol pumps Sh1.2 billion into Uganda, Rwanda acquisitions

KenolKobil’s #ticker:KENO acquisition of 33 petrol stations in Uganda and Rwanda will cost it Sh1.2 billion, the oil marketer has disclosed in documents relating to its impending buyout by French firm Rubis Energie.

The Nairobi Securities Exchange-listed firm in November last year announced it had signed an agreement to acquire the assets from Delta Petroleum Uganda and Delta Petroleum Rwanda but did not disclose the investment value at the time.