This archive report was first published on 24 June 2021.
On June 24, 2021, Liberty Holdings, a leading South African financial services company, announced its intention to acquire an additional 84.2 million shares in Liberty Kenya Holdings through a private transaction.
The company already owns 309.33 million ordinary shares in Liberty Kenya, equivalent to 57.7% of the company.
According to the announcement, Liberty Holdings plans to acquire the shares at a cost of KSh11 per share, a 39% premium to Liberty Kenya's closing price of KSh7.92 on Wednesday.
After the completion of the acquisition, Liberty Holdings' ownership in Liberty Kenya will increase to 73.5% of the company, from the current 57.7%.
Liberty Holdings has assured that it does not intend to purchase 100% of the company and therefore, Liberty Kenya Holdings shares will continue trading on the Nairobi Securities Exchange after the deal has been finalized.
