KenolKobil’s KSh35.6 billion share-sale closes Monday

KenolKobil shares suspended from trading at bourse for 12 days

KenolKobil’s KSh35.6 billion share-sale closes Monday opening of a take over offer to all shareholders by Rubis Energie.

Rubis Énergie SAS considered that KenolKobil Plc’s shareholders will find the offer price of Ksh 23 per share very attractive as it represents a 53.4% premium to the volume weighted average price at which KenolKobil Plc shares traded over the 30 trading days preceding the issuance of the notice of intention to take-over by Rubis Énergie SAS in October 2018 and is higher than the prices at which KenolKobil Plc shares have traded since then.

The offer opened on 20th December 2018 and will close at 5pm on 18th February 2019.

The cash offer was approved by the Competition Authority of Kenya and the COMESA Competition Commission.