ICEA Lion to Acquire Assets from STANLIB Kenya Limited

November 27, 2019

On November 7, 2019, STANLIB Kenya Limited announced that it had entered into an agreement to sell certain assets to ICEA Lion Asset Management Limited.


Pursuant to the agreement, ICEA Lion Asset Management Limited (“ICEA”) will acquire certain assets of STANLIB Kenya Limited (“SKL”), relating to ICEA’s business of managing third-party funds, assets and investments in Kenya. The transaction is expected to close in early 2020, subject to certain conditions precedent, including the approval of the Competition Authority of Kenya and the Capital Markets Authority of Kenya.

ICEA, based in East Africa, is an insurer and financial services company.

SKL, based in Kenya, is an investment manager providing services to institutional and retail clients that has over KES$1.2 billion in assets under management. It is owned by Liberty Holdings Limited, which is listed on the Nairobi Securities Exchange.

To read the press release: please click here.


Categories

Investment Manager M&A, Transactions