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Article: Kenya: State Offers to Buy Caltex.
- Article from:
- TendersInfo
- Article date:
- June 2, 2008
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Byline: pinto03
The Government is in talks with America's Chevron corporation to buy its Kenyan fuel marketing business for Sh3 billion.(USD48mn)
The takeover bid for the business, which trades under the name Caltex in Kenya, comes at a time when the US multinational is planning to exit from Africa. The company's operations are spread over 10 African countries.
The Kenyan and Ugandan operations are up for sale as a joint unit, putting the Government's bid for the local business at a disadvantage against international and national oil companies that are said to be pursuing the deal to grow their market shares in the region. Energy Permanent ...