Carbacid-BOC deal shows need for indigenisation
Thursday December 24 2020
A BOC worker prepares cylinders for refill at the company’s Industrial Area plant. FILE PHOTO | NMG
By GEORGE BODO
Both Carbacid and BOC are the leading players in the industrial and medical gas market.
BOC Kenya Plc’s ultimate majority shareholder is BOC Holdings of United Kingdom while Carbacid is a locally-domiciled company.
The buy-out, upon fruition, will create the largest industrial and medical gases producer in Kenya.
The offer by Carbacid Investments Limited #ticker:CARB together with the Baloobhai family (through their vehicle Aksaya Limited) to acquire all outstanding shares of BOC Gases #ticker:BOC for a total cash consideration of Sh1.24 billion (about $11.3 million) represents a shift in the flow of capital.