NAIROBI, Kenya, July 21 – Sarrai Group has acquired the assets of Tahir Sheikh Said Grain Millers Limited (TSS) for an undisclosed amount.
The acquisition has been undertaken by Ustawi Grain Millers Limited (UGML), which is owned by Sarrai Group.
“IN EXERCISE of the powers conferred by Section 42(1) of the Competition Act, 2010, the Competition Authority of Kenya excludes the proposed purchase of all the assets of Tahir Sheikh Said Grain Milers limited (under receivership) (TSS) by Ustawi Grain Millers Limited (UGML) from the provisions of Part IV of the Act due to the following reasons,” Competition Authority of Kenya (CAK) acting Director General Adano Roba said in a statement.
CAK said that the takeover was okay as the transaction would not affect competition negatively.
“(b) although the combined turnover of the parties for the preceding year, 2021, which is higher than assets, was above one billion shillings, the target had no turnover;” it added.
“The transaction meets the threshold for exclusion provided under the Competition (General) Rules, 2019.”
