{"id":21867,"date":"2021-02-01T20:46:57","date_gmt":"2021-02-01T20:46:57","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=21867"},"modified":"2021-02-01T20:46:57","modified_gmt":"2021-02-01T20:46:57","slug":"boc-kenya-acquisition-bid-gets-nod","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/policy\/boc-kenya-acquisition-bid-gets-nod","title":{"rendered":"BOC Kenya acquisition bid gets nod"},"content":{"rendered":"

AfricaPress-Kenya:<\/strong> Carbacid Investments Plc (CIL) shareholders have approved the acquisition of up to 100 per cent of the shareholding of BOC Kenya Plc (BOC) in an offer announced last November.<\/p>\n

The proposal was approved at CIL\u2019s 49th shareholders\u2019 annual general meeting (AGM).<\/p>\n

BOC produces and supplies industrial, medical and special gases while CIL\u2019s main operating subsidiary Carbacid (CO2) Ltd produces natural food-grade carbon dioxide extracted from natural underground reservoirs.<\/p>\n

Last November, CIL and Aksaya Investment LLP notified BOC of their intention to make a joint takeover bid to acquire up to 100 per cent of the shares of BOC, being 19.52 million ordinary shares with a par value of Sh5 for a cash consideration of Sh63.50 per share (offer).<\/p>\n

Growth plan<\/p>\n

The proposed acquisition, valued at over Sh1.2 billion, is subject to regulatory approvals and is part of CIL\u2019s diversification and growth plan.<\/p>\n

With a shareholder base of more than 3,000 investors, delegates attending the virtual AGM overwhelmingly voted (90.3 per cent) in favour of the proposed acquisition.<\/p>\n

The shareholders tasked CIL board to fast-track the acquisition process.<\/p>\n

\u201cThis acquisition is part of our diversification strategy and the combination of BOC\u2019s product portfolio and services with our business is a match that will position us to become a regional supplier of choice for industrial, medical and special gases and related equipment and services,\u201d CIL Chairman Dennis Awori said during the AGM.<\/p>\n

CIL\u2019s shareholders also approved a final dividend of Sh0.70 per ordinary share – bringing the total dividend payout to Sh178 million in the financial year ending July 31, 2020.<\/p>\n

The final dividend of Sh0.70 will be paid before Friday this week to shareholders on the register of CIL as at close of business on January 9, 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: Carbacid Investments Plc (CIL) shareholders have approved the acquisition of up to 100 per cent of the shareholding of BOC Kenya Plc (BOC) in an offer announced last November. The proposal was approved at CIL\u2019s 49th shareholders\u2019 annual general meeting (AGM). BOC produces and supplies industrial, medical and special gases while CIL\u2019s main operating […]<\/p>\n","protected":false},"author":84,"featured_media":21865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,12],"tags":[6670,7298,4495],"class_list":["post-21867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","tag-boc","tag-carbacid","tag-nse"],"yoast_head":"\nBOC Kenya acquisition bid gets nod - kenya<\/title>\n<meta name=\"description\" content=\"Carbacid Investments Plc (CIL) shareholders have approved the acquisition of up to 100 per cent of the shareholding of BOC Kenya Plc\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/policy\/boc-kenya-acquisition-bid-gets-nod\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BOC Kenya acquisition bid gets nod\" \/>\n<meta property=\"og:description\" content=\"Carbacid Investments Plc (CIL) shareholders have approved the acquisition of up to 100 per cent of the shareholding of BOC Kenya Plc\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/policy\/boc-kenya-acquisition-bid-gets-nod\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-01T20:46:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/02\/boc_kenya_acquisitio6017be07d0eff.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"635\" \/>\n\t<meta property=\"og:image:height\" content=\"331\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/policy\/boc-kenya-acquisition-bid-gets-nod#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/policy\/boc-kenya-acquisition-bid-gets-nod\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BOC Kenya acquisition bid gets nod\",\"datePublished\":\"2021-02-01T20:46:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/policy\/boc-kenya-acquisition-bid-gets-nod\"},\"wordCount\":290,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/policy\/boc-kenya-acquisition-bid-gets-nod#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/02\/boc_kenya_acquisitio6017be07d0eff.jpg\",\"keywords\":[\"BOC\",\"Carbacid\",\"NSE\"],\"articleSection\":[\"all news\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/policy\/boc-kenya-acquisition-bid-gets-nod#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/policy\/boc-kenya-acquisition-bid-gets-nod\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/policy\/boc-kenya-acquisition-bid-gets-nod\",\"name\":\"BOC Kenya acquisition bid gets nod - 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