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Companies

Centum books Sh1.1bn gain from Kenya Wine stake sale

Investors during Centum’s full- year briefing in March. PHOTO | DIANA NGILA | NMG
Investors during Centum’s full- year briefing in March. PHOTO | DIANA NGILA | NMG 

Centum Investment #ticker:ICDC recorded a Sh1.1 billion gain from the sale of its 26.4 per cent stake in Kenya Wine Agencies Limited (Kwal) to South African brewer Distell in March.

The transaction, alongside the sale of an eight per cent stake in microcredit firm Platcorp in which it gained Sh432 million, was one of the most profitable deals for the company in the year ended March.

“During the year, we successfully exited our 26.4 stake in Kwal, which was a legacy asset in our portfolio that was no longer aligned with our … strategy, realising a gain of Sh1.1 billion,” the company says in its latest annual report.

“We also partially exited our stake in Platcorp, realising a gain of Sh432 million.”

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