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Kenya attracts Sh145bn mergers and acquisitions

 

The disclosed value of mergers and acquisitions (M&A) deals in Kenya totaled Sh144.5 billion ($ 1.12 billion) last year, an analysis by DealMakers, a South African magazine focused exclusively on tracking such deals showed.

The analysis shows that there were a total of 123 M&A deals in Kenya last year –the highest number of transactions in the Eastern Africa region. Kenya was however second in the region in terms of deal value with analysis showing that Sudan booked $ 1.4 billion (Sh180.67 billion) from just three transactions last year.

Kenya last year recorded several top-ranking M&A including KCB Group’s acquisition of an 85 percent stake in Trust Merchant Bank of the Democratic Republic of Congo in a deal advised by Deloitte, Bowmans, Stein Scop, and EY.

In another transaction last year, HIL Holdings offloaded a stake in Hillcrest International Schools to the Braeburn Group of International Schools overseen by DLA Piper Africa, IKM Advocates, and Bowmans.

There was yet another transaction in early 2022 where Moroccan furniture retailer, the KITEA Group, and pan-African private equity firm, Tana Africa Capital acquired a strategic 55.9 percent stake in Kenyan retailer, Furniture Palace.

Last year Metro Group (TMG) also acquired a majority stake in Metropolitan Hospital Holdings following the exit of Evercare from its investment in the hospital chain—returning Metropolitan Hospital and Ladnana Hospital to the TMG fold. Before the transaction, TMG held a 41.8 percent stake in the company.

Another notable deal in 2022 was the acquisition of the Kenyan Crown Plaza hotel by Kasada Capital Management from Nairobi businesses Nazir Ahmed Akbaarali.

In another transaction last year, Amethis retail and Gakiwawa Family Investment exit of a 40 percent stake in Naivas Supermarkets in a deal worth an estimated Sh18.25 billion.

In April 2022, Actis also announced the successful exit of its 36percent minority stake in AutoXpress International via an auction while Eurapharma in March 2022 acquired a 30 percent stake in Goodlife Pharmacies following LeapFrog Investment’s partial equity exit from the pharmacy chain.

During an event in Nairobi yesterday, DealMakers ranked the KCB-TMB transaction the deal of the year in East Africa while the Naivas transaction was ranked the private equity deal of 2022.     BY DAILY NATION    

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