The NSE-listed firm has a policy of selling minority stakes in companies it does not control.
Centum’s chief executive James Mworia told Business Daily the policy of maintaining only majority shareholding is still in force.
The investment firm has in recent years sold its minority stakes in scores of companies including Kenya Wine Agencies, UAP Holdings and insurance brokerage AON.
Centum #ticker:ICDC is likely to buy more shares in Deacons after signing an agreement to acquire a 5.53 per cent stake in the fashion retailer from private equity firm Aureos East Africa Fund for an undisclosed amount.
The Nairobi Securities Exchange-listed firm has a policy of selling minority stakes in companies it does not control.
The deal with Aureos therefore signals an intention to accumulate more shares in Deacons in line with the strategy of buying or retaining majority shareholding in portfolio companies.
This would mirror the steady purchase of shares at Longhorn Publishers #ticker:LKL where the company emerged with a controlling 60.2 per cent stake, raising it from a low of 31.2 per cent.
Centum’s chief executive James Mworia told Business Daily the policy of maintaining only majority shareholding is still in force but declined to comment on the specific investment in Deacons.
The investment firm has in recent years sold its minority stakes in scores of companies including Kenya Wine Agencies, UAP Holdings and insurance brokerage AON.
