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Provider: Reuters Investment Profile

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British-American Investments Company (Kenya) Ltd enters agreement to acquire 99% stake in Real Insurance Company Limited

Thursday, 21 Nov 2013 07:00pm EST 

British-American Investments Company (Kenya) Ltd:Says entered into a preliminary agreement with potential for the company to acquire a 99% shareholding in Real Insurance Company Limited (REAL).Says acquisition depends upon the execution of a definitive Share Purchase Agreement and completion of the customary closing conditions, including receipt of all requisite regulatory and shareholder approvals.REAL is a licensed insurer carrying out business in Kenya and, through its subsidiaries in Tanzania, Malawi and Mozambique.Says part of the consideration is intended to be satisfied by an issue of shares in the company to shareholders of REAL.Says further details to be released in due course. 

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