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KenolKobil Opens Take Over Offer To All Shareholders At KES 23

BY Soko Directory Team · January 11, 2019 09:01 am

KenolKobi Group has announced the opening of taking over to all shareholders by Rubis Energie.

According to a notice sent to newsrooms, the cash offer has been approved by the Competition Authority of Kenya and the COMESA Competition Commission.

“The offer opened on 20th December 2018 and will close on 18th February 2019 at 5 pm,” said James Mathenge, the Group chairman.

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Rubis Énergie SAS considers that KenolKobil Plc’s shareholders will find the offer price of Ksh 23 per share very attractive as it represents a 53.4 percent premium to the volume weighted average price at which KenolKobil Plc shares traded over the 30 trading days preceding the issuance of the notice of intention to take-over by Rubis Énergie SAS in October 2018 and is higher than the prices at which KenolKobil Plc shares have traded since then.

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