NAIROBI, KENYA: Carbacid and Aksaya Investments have served BOC Kenya with a notice to acquire all of the ordinary shares of the Company at Sh63.50 per share. At the close of the Proposed Transaction, if the offer is accepted in full, Carbacid and Aksaya investments will hold 100 per cent of the issued shares of BOC Kenya. Baloobhai Chhotabhai Patel, jointly with his wife, Amarjeet Baloobhai Patel, hold 40.38 per cent of Carbacid. While BOC Kenya produces and supplies industrial, medical and special gases, CIL’s main operating subsidiary Carbacid (CO2) Limited is the region’s leading producer of food-grade carbon dioxide extracted from natural underground reservoirs in Kenya. The enlarged group will also provide greater opportunities for employee development, advancement and growth for staff of CIL and BOC.

Source: Standard Digital November 26, 2020 12:16 UTC