UAE company to take over 60% of Telkom Kenya from Helios, Kenya's Treasury says

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United Arab Emirates-based Infrastructure Corporation of Africa LLC (ICA) will take over 60% of shares in Telkom Kenya from London-based private equity firm Helios after a competitive process, Kenya's finance ministry said on Wednesday.

a deal between a previous administration and Helios for the nationalisation of Telkom, citing "governance challenges" in that transaction.

"The offer by ICA includes capital injection to fund Telkom's critical infrastructure and the overall upgrade of the company's capabilities, and also settle some of the outstanding liabilities of the company," the ministry said in a statement.Civitas Resources to buy Permian assets for about $2.1 bln

Civitas Resources will buy acreage in the oil-rich Permian Basin from global energy trader Vitol's U.S. upstream venture for about $2.1 billion in cash and stock, the U.S. oil and gas producer said on Wednesday.Hedin Mobility Group and U.S.-based PAG International said on Wednesday they will not make an offer for British automotive retailer Pendragon , just a fortnight after sweetening their takeover proposal.

 

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