UK firm to acquire Kenyan logistics and oil firm Comarco for US$30m

KENYA – Anglo African Agriculture (AAA), a London Stock Exchange-listed company has announced plans to acquire the Kenyan-based privately-owned port and marine logistics group, Comarco Group (“Comarco”) in a deal valued at US$30 million (Ksh3.6 billion). The transaction will give AAA shareholders no more than 5% stake, becoming the majority share holders in the new combined entity. The straight equity buyout will also see AAA advance Comarco Sh600 million ($6 million) to settle existing debts and pay capital gains tax. Comarco’s existing owners will be issued with new shares valued…

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