Sub-Saharan Africa mergers, acquisitions dip in 2018
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“Inbound M&A was down 14 per cent year-on-year, driven by the lowest number of deals since 2005,” the report stated. M&A from sub-Saharan Africa recorded Sh619 billion ($6.1b) in 2018 with South Africa, Mauritius and Zimbabwe making major acquisitions in that order. In March 2017, DTB told of plans of buying Habib Kenya with six branches in the country upon shareholder and regulatory approvals, at the time, DTB’s shares were worth Sh1.8 billion ($17.5 million). Oil marketing firm Vivo Energy acquired Engen’s operations in eight African countries including Kenya for Sh20 billion. Vivo, which runs Shell-branded outlets in the region, said the transfer of Engen’s business to Vivo would be completed by March 2019. In late October 2018, French Firm Rubis Energie, told of plans of acquiring Nicholas Biwott’s family company KenolKobil at a Sh35 billion deal.SEE ALSO :Glamour at Mr and Miss Albinism East Africa
The deal, seen by some industry players as a smart move to shift money to holding stock, was done quietly and gave no room to rivalry among family members. M&A banking doings such as KCB Groups takeover of Imperial Bank Limited, is expected to gain traction after a dip in 2017 according to the report. UK, US and the United Arab Emirates held majority of these reported acquisitions.
