• About
  • Advertise
  • Privacy & Policy
  • Contact
Kenyan Business Feed
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business
No Result
View All Result
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business
No Result
View All Result
Kenyan Business Feed
No Result
View All Result
Home News

CAK approves buyout of Abercrombie & Kent

Kenyan Business Feed by Kenyan Business Feed
Share on FacebookShare on Twitter

[ad_1]

Table of Contents

Toggle
        • Companies
  • CAK approves buyout of Abercrombie & Kent
Companies

CAK approves buyout of Abercrombie & Kent

Wednesday, May 15, 2019 21:56


By ANNIE NJANJA

Wang’ombe Kariuki
CAK director-general Wang’ombe Kariuki. FILE PHOTO | NMG 

Bahamas-based Heritour Limited has received approval from the Competition Authority of Kenya (CAK) to complete its full buyout of the local subsidiary of Luxembourg-based tour firm, Abercrombie & Kent (A&K).

The target firm, A&K, has several subsidiaries in Kenya, one of them being Abercrombie & Kent Kenya Limited, one of the 328 registered local tour operators, according to the Kenya Association of Tour Operators (KATO).

The local subsidiary, according to Kato, is among the 36 elite tour firms in Kenya that post annual gross earnings of over Sh120 million. “It is the Authority’s view that post-merger, A&K’s market share will not change since the acquirer is newly incorporated and does not have similar business in Kenya,” CAK said in a statement.

“The transaction is therefore unlikely to lead to substantial lessening of competition in the market for tour operation services.”

CAK added that the parties’ combined turnover for the preceding year was over Sh1 billion and, therefore, the transaction met the threshold for full merger analysis as provided in the merger threshold guidelines.

Heritour is a special purpose vehicle formed to acquire the target firms by Heritage Group S.A, a Swiss company, which operates in the cruising and real estate sector. A&K Group was founded in 1992. Later in 2017 Neo Dynasty, a subsidiary of the Chinese real estate and investment company Zhonghong Group, bought 90.5 percent of its stake for Sh41.2 billion.

[ad_2]

Source link


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]
Kenyan Business Feed

Kenyan Business Feed

Recommended.

Local banks take Sh8 billion hit in KQ shares

May 12, 2019

EDITORIAL: Vet posho mills

May 20, 2019

Subscribe.

Trending.

Tourism CS Rebecca Miano announces new measures at Maasai Mara, including ranger deployments, clearer signage, and public education following a viral tourist incident.

Government Tightens Maasai Mara Rules After Viral Tourist Clip

August 26, 2025
Safaricom launches B Live, a first of its kind service allowing customers to buy internet access by the hour, offering flexible one hour three hour and six hour bundles for students creators and professionals.

Safaricom Expands Digital Options with Innovative B Live Product That Adapts to Different Usage Habits

August 21, 2025

Co-op Bank Empowers Over 249,000 Kenyan MSMEs with Loans and Training

August 21, 2025
PLP and Safaricom Graduate 300 Youth in Push for Digital Talent Development Across Kenya

PLP and Safaricom Graduate 300 Youth to Boost Kenya’s Digital Talent Pipeline

June 23, 2025

Co-op Bank Branches in Nairobi and Their Contacts

March 3, 2025
Kenyan Business Feed

We focus on news, analysis, and reports about Kenyan business, covering sectors like agriculture, finance, tourism, and technology.

Categories

  • African
  • Agribusiness
  • Courts
  • Education
  • Health
  • Hospitality
  • Manufacturing
  • NetWorths
  • News
  • Reports & Analysis
  • World Business

Popular News

  • First look at the prison where El Chapo may live for the rest of his life

    First look at the prison where El Chapo may live for the rest of his life

    2157 shares
    Share 1040 Tweet 466
  • Sameer Africa CEO Sacked

    1804 shares
    Share 750 Tweet 439

Recent News

Tourism CS Rebecca Miano announces new measures at Maasai Mara, including ranger deployments, clearer signage, and public education following a viral tourist incident.

Government Tightens Maasai Mara Rules After Viral Tourist Clip

August 26, 2025

Co-op Bank Empowers Over 249,000 Kenyan MSMEs with Loans and Training

August 21, 2025
  • Home
  • African
  • News
  • Education
  • Health
  • Reports & Analysis
  • World Business

© 2025 KBF

No Result
View All Result
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business

© 2025 KBF