Shoe and leather accessories retailer, Nairobi Business Ventures Limited (NBV), has announced plans to acquire four businesses in Kenya, a deal that could be worth up to KSh3 billion.
Through a public notice, the retailer intends to purchase 100 per cent ownership in Delta Automobile, a leading heavy commercial vehicle maintenance company; Air Direct, an aviation company; and Aviation Management Solution Limited.
It also intends to purchase an 11.33 hectares parcel of land in Machakos County to be used to set up a cement manufacturing facility.
ABC Capital is the transaction advisor for the deal and MW & Company advocates as the legal advisor.
Delta International FZE, an infrastructural and industrial conglomerate acquired an 84 per cent majority stake at Nairobi Business Ventures (NBV) for KSh83 million.
NBV plans to focus on manufacturing, importing, and selling raw materials used by cement and steel processors and other companies in the infrastructure sector.