Kenya Pipeline moves to buy troubled refinery

Kenya Pipeline Company (KPC) plans to acquire Kenya Petroleum Refineries Ltd (KPRL), which has failed to live to its status as East African’s only oil refinery.

The State-owned corporation has advertised for bids from eligible transaction advisers to help it acquire the refinery from the National Treasury. “KPC invites sealed request for the provision of transaction advisory services for acquisition of KPRL,” it said in an advert yesterday. The transaction adviser is expected to carry out due diligence on the assets and liabilities of KPRL.