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Competition Authority of KenyaDeterminationTrade and industry

CAK DECISION ON THE PROPOSED ACQUISITION OF 51% SHAREHOLDING IN MONARCH INSURANCE COMPANY LIMITED BY ONDOBA LIMITED, KENYORO LIMITED AND EQUICO THIRTEEN LIMITED

28 Aug 2024CAK competition determinations

The brief

determination
Issued by
Competition Authority of Kenya
Who it affects
the proposed acquisition of 51% shareholding in Monarch Insurance Company Limited by a consortium of three firms, Ondoba Limited, Kenyoro Limited and Equico Thirteen Limited
What changed
The Authority approved the proposed acquisition of 51% of the issued share capital of Monarch Insurance Company Limited by Ondoba Limited, Kenyoro Limited, and Equico Thirteen Limited, unconditionally.
Amounts
  • KES 1,000,000,000.00 — parties whose combined turnover or assets, whichever is higher, is over Ksh. 1 Billion are required to seek approval from the Authority prior to implementing a proposed merger