Rubis: result of tender offer on KenolKobil enacted
(CercleFinance.com) - On Friday evening the Rubis Group announced that Kenya's Financial Markets Authority has issued the final result of the tender offer for KenolKobil shares that it did not initially hold.
After this deal, Rubis will hold 97.6% of KenolKobil's shares in issue. The group also plans to launch a mandatory repurchase of the residual shares, the terms of which will be specified later.
"On the basis of the offer price per share of KES 23 applied on the full number of shares (post compulsory shares purchase) total amount paid for the equity would reach EUR312 million entirely financed by existing credit lines," Rubis said.
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After this deal, Rubis will hold 97.6% of KenolKobil's shares in issue. The group also plans to launch a mandatory repurchase of the residual shares, the terms of which will be specified later.
"On the basis of the offer price per share of KES 23 applied on the full number of shares (post compulsory shares purchase) total amount paid for the equity would reach EUR312 million entirely financed by existing credit lines," Rubis said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.