Finance

Kenya: Centum plans to divest part of its real estate development branch

Thursday, 20 January 2022 18:12
Kenya: Centum plans to divest part of its real estate development branch

(Ecofin Agency) - A few days after selling part of the shares of its subsidiary Centum Real Estate, the investment group Centum is mulling over a similar deal for its land development unit. The deal is expected to close in Q2 2022.

Investment group Centum has begun talks with investors to sell part of the shares it holds in Two Rivers Development Limited (TRDL). Businessdaily.com reported that Centum MD James Mworia (pictured), plans to sell an ‘as yet undetermined’ part of the subsidiary’s capital. The transaction is set to take place in Q2 2022.

“We are engaging with several investors and will hopefully close soon. The target holding post-deal depends on the valuation we agree on and structure, which might either come in as straight equity or a convertible facility. In the next three or four months, we should have a signed agreement,” the Manager said. A few days ago, Centum sold part of its branch Centum Real Estate. The transaction, carried out on January 12, enabled the East African group to raise about $150 million.

With the new sale, Centum will raise extra funds to reduce the debt of its subsidiary Two Rivers Development Limited. The company will gradually exit a loss-making business. Last November, the subsidiary reported a loss of KSh342 million for H1 2021. In H1 2020, it was KSh1 billion.

Chamberline Moko    



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.