The Competition Authority of Kenya (CAK) has approved the sale of Crowne Plaza Nairobi Hotel by Golden Jubilee Limited to a pan-African hospitality fund, Falcon NBO.
In addition, it approved the acquisition of Nairobi’s 680 hotel by Maanzoni Lodge entrepreneur Christopher Musau.
For Crowne Plaza, the proposed transaction involves the acquisition of all issued shares in Golden Jubilee’s Crowne hotel by Falcon NBO.
The hotel is situated in the heart of Nairobi, near Riadha House History Museum. The property features 206 modern rooms.
Golden Jubilee Limited owns Crowne Plaza, where tycoon Akbarali owns 97.5 percent and Anish Akbarali 2.5 percent.
On the other hand, CAK explained that the acquisition of the three-star 680 Hotel involves the entire issued share capital in Mintea Corp (the target’s parent company) and in Mayhouse (the target) by Maanzoni Lodge Ltd and Christopher Musyoka Musau, resulting in a change of control.
