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KenolKobil Plc (NSE:KENO) shareholders have until 18 February 2019 to accept the Take-Over offer by Rubis Énergie SAS after its board approved the acquisition.

 

On 20 December 2018, the French petroleum products distributor proposed to purchase all the voting shares of KenolKobil Plc not already owned by it at an offer price of Ksh23.00, a proposition the board found sufficient.

The board of directors said it “is pleased to announce that, after deliberations and on the basis of independent financial advice” it has given a go-ahead for owners to accept the deal.

 

The offer documents, shareholders’ circular and the form of acceptance shall be circulated by post, and shall be accessible at the Kenolkobil’s website, said the board.

 

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