Old Mutual has been give approval by the Competition Authority of Kenya (CAK) to buy a further 40% stake in the holding firm of Centum's Two Rivers Mall Project. The deal is expected to be completed within two weeks.
Old Mutual has been give approval by the Competition Authority of Kenya (CAK) to buy a further 40% stake in the holding firm of Centum's Two Rivers Mall Project. The UK-based company had invested KES 6.4bn ($63m) in Two Rivers Lifestyle Center (TRLC) in the form of equity and convertible debt, thereby giving it a 10% stake and an option to turn the loan into an extra 40% stake in the firm.