Saturday, 21 October 2017 11:13 GMT
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Dubai's Al-Futtaim close to acquiring Kenyan car retailer

(MENAFN) UAE-based Al-Futtaim Group said that it is close to acquire Kenya-based car retailer CMC Holdings, Arabian Business reported



Al-Futtaim said that 91 percent of shareholders accepted its USD87.91 million offer



The 91 percent acceptance means that Al-Futtaim will hold 533 million shares in CMC



Companies in the Gulf are increasingly investing more in Africa, drawn by the region"s rapid economic growth and the rise of a free-spending middle class
Dubai's Al-Futtaim close to acquiring Kenyan car retailer