2 weeks Ago By KEN MUTHOMI
NAIROBI, Kenya, Sep 30 – Mutual’s African Infrastructure Investment Managers (AIIM) is seeking a controlling interest in Bulkstream Limited (Grain Bulk Handlers Ltd). Bulkstream Limited is a provider of cargo handling, terminal operation, and logistics services in respect of bulk commodities to local millers and global commodity trading houses. The company conducts its activities in Kenya and Uganda only.
AIIM, on the other hand, is a fund manager that manages infrastructure funds in accordance with management/advisory agreements, ultimately controlled by Old Mutual Limited. AIIM actively manages investments in East, West, and Southern Africa. According to the COMESA competition authority, the transaction aims to support the elevation of Bulkstream’s business in Kenya and Uganda through promoting secure and efficient logistics infrastructure.
The commission has further pointed out that the stride will not result in a substantial prevention or lessening of competition in the Common Market as there are no horizontal or vertical overlaps between the activities of the merging parties in the Common Market. However, COMESA has assured that it will determine whether the proposed transaction is likely to prevent or lessen competition within the Common Market. “The Commission will, in accordance with the provisions of the Regulations, determine, among other things, whether the proposed transaction is likely to substantially preventor lessen competition within the Common Market and whether the proposed transaction is or would be contrary to the public interest as provided for under Article26 of the Regulations,” it stated.
COMESA has thus urged interested stakeholders, including competitors, suppliers, and customers of the two parties, to submit written representations to the Commission regarding the proposed transaction. 0 SHARES Share Tweet.
