A PYMNTS Company

Kenya OKs Amethis, Naivas Deal

By  |  March 3, 2020

The Competition Authority of Kenya (CAK) has approved acquisition of a minority stake in retail chain Naivas by French private equity fund Amethis Finance.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The watchdog while approving the acquisition directed the merged entity to honour all current contracts made by Naivas with local suppliers besides payment of all exiting debts.

    The approval sets the stage for the continued expansion by Naivas as it seeks to grow its footprint across the country in the fight for market share in an increasingly competitive market.

    Amethis Finance last month disclosed the planned acquisition of about 30 percent in the local retailer in the deal whose value was however undisclosed.

    Full Content: Business Daily

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.