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BOC Kenya acquisition bid gets nod


THE STANDARD
By
Correspondent |
February 1st 2021 at 11:35:32 GMT +0300
BOC MD Marion Gathoga (PHOTO: Wilberforce Okwiri)
 
 
 
Carbacid Investments Plc (CIL) shareholders have approved the acquisition of up to 100 per cent of the shareholding of BOC Kenya Plc (BOC) in an offer announced last November.
The proposal was approved at CIL’s 49th shareholders’ annual general meeting (AGM).
BOC produces and supplies industrial, medical and special gases while CIL’s main operating subsidiary Carbacid (CO2) Ltd produces natural food-grade carbon dioxide extracted from natural underground reservoirs.
Last November, CIL and Aksaya Investment LLP notified BOC of their intention to make a joint takeover bid to acquire up to 100 per cent of the shares of BOC, being 19.52 million ordinary shares with a par value of Sh5 for a cash consideration of Sh63.50 per share (offer). ....

Dennis Awori , Marion Gathoga , Carbacid Investments Plc , Kenya Plc , Aksaya Investments , Wilberforce Okwiri , Investments Plc , கேந்ய ப்ல் , முதலீடுகள் ப்ல் ,

Carbacid-BOC deal shows need for indigenisation


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. ....

United Kingdom , Pwani Oil Products , Holdings Of United Kingdom , Carbacid Investments , Kenya Plc , Carbacid Investments Limited , Aksaya Limited , Pwani Oil , ஒன்றுபட்டது கிஂக்டம் , ஹோல்டிங்ஸ் ஆஃப் ஒன்றுபட்டது கிஂக்டம் , கேந்ய ப்ல் ,