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SA’s Liberty Holding eyes higher stake in Kenyan branch Wednesday, 10 March 2021 14:19
(Ecofin Agency) - South African insurance group Liberty Holdings said it wants to strengthen its footprint in its Kenyan subsidiary. From 57.7% (309 million ordinary shares), the company wants to increase its stake in Liberty Kenya Holdings to 73.5%.
Under this plan, Liberty Holdings has proposed to purchase the 49.5 million ordinary shares held by the Conrad Hilton Foundation, which is managed by the Kimberlite Frontier Africa Master Fund, as well as the 34.7 million shares held by the Coronation Africa Frontiers Fund vehicle in the Nairobi Securities Exchange-listed insurance company.
Overall, Liberty Holdings plans to acquire about 84.24 million additional shares, representing a 16% stake.