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 (40 per cent) 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.
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.