Dimension Data Completes Access Kenya Buy Out

Access Kenya Founder, Jonathan Somen

Dimension Data announced its intent to acquire Access Kenya sometime last year. By the end of August, 89% Access Kenya shareholders had been won over by the South African corporation. The CMA (Capital Markets Authority) requires that Dimesion Data obtains 90% approval if the remaining shares are to be bought out.

Access Kenya Founder, Jonathan Somen
Access Kenya Founder, Jonathan Somen

The last stage of the acquisition is now complete with the South African corporation depositing Kshs 14 per share for all the remaining shares.

A statement from AccessKenya reads:

“Shareholders of AccessKenya Group are hereby notified that Dimension Data Holdings Plc has with effect from January 4, 2014, compulsorily acquired the remaining shares that were subject of the notice dated November 1, 2013, issued pursuant to section 210 of the Companies Act, Chapter 486 of the Laws of Kenya.”

“The remaining shares have been acquired at a price of Sh14 per share which is the take-over offer price. The consideration of the remaining shares has been paid to the company to hold in trust for the shareholders.”

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