Competition Authority of Kenya approves Kuramo's acquisition in TransCentury stock

The Competition Authority of Kenya has approved the acquisition of 25 per cent stake of TransCentury by an American private equity firm.

CAK Director General Wang’ombe Kariuki announced the approval on Friday, to eliminate the last hurdle of the complex acquisition by Kuramo Capital. “It is notified for general information that the Competition Authority of Kenya has authorised the proposed subscription for 24.99 per cent shareholding in Trans-Century Limited by Kuramo Africa Opportunity Kenyan Vehicle Limited,” Kariuki said in the gazette notice published on Friday.