Mauritius fund Axis buys Deloitte allied audit firm

KENYA – Axis, Mauritian fund manager has received approval from the Competition Authority of Kenya (CAK) to acquire Livingstone Associates, a Kenya based audit firm and an affiliate of Deloitte Kenya. The deal whose details of transaction were not disclosed, will see Axis expand its fund services in the local market. “The Competition Authority of Kenya excludes the proposed acquisition … for the following reasons the merger will not affect competition negatively; and the acquirer had a turnover of Sh169.96 million (US$1.68 million) for the preceding year, 2018 while the…

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