Kenya: Express Kenya CEO's Attempt to Take Over Company Flops

Express Kenya CEO Hector Diniz's bid to buy out the company has failed after he was unable to garner support of shareholders holding a minimum combined stake of 75 per cent.

This means that the real estate firm will retain its listing on the Nairobi Securities Exchange (NSE) and shareholders who had accepted Mr Diniz's offer of Sh5.5 per share will not be paid by the executive.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.