#stake sale

The National Treasury of Kenya is set to receive Sh204.3 billion from the sale of a 20 percent stake in Safaricom, according to Cabinet Secretary John Mbadi. The government sold over 6 billion ordinary shares to Vodacom at Sh34 per share, following a Court of Appeal ruling that cleared the deal. This acquisition increases Vodacom's ownership in Safaricom PLC to 55 percent, establishing it as the majority shareholder.

East African Breweries Plc (EABL) has requested Chief Justice Martha Koome to intervene in ongoing legal disputes regarding Diageo's planned sale of a Sh340 billion stake to Asahi. In a letter dated June 23, EABL expressed concerns about multiple parallel court cases that could jeopardize this significant corporate transaction in the region.