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

Summary

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.

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

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