Jul 2019 Takeover of the East African market leader in the distribution of petroleum products
The firm has advised a French group in the acquisition of KenolKobilPlc, listed on the Nairobi Stock Exchange, and a market leader in the distribution of petroleum products in Kenya, but also in Burundi, Ethiopia, Uganda, Rwanda and Zambia. KenolKobil operates a network of service-stations, petroleum terminals and aviation businesses. The public takeover offer valued KenolKobil at USD 353 million. The takeover offer met with a resounding success, with 97.6% of the shares being tendered in March 2019. The remaining shares were acquired in July 2019 through a squeeze-out procedure.
The firm was awarded a second prize by Deal Makers Africa in the “Law Firms – East Africa” category.