CAK approves Cable Experts acquisition of East African Cables
CAK said the approval was granted pursuant to Section 46(6) of the Competition Act, which empowers the authority to authorise proposed transactions.
The Competition Authority of Kenya (CAK) has given the green light for Cable Experts Limited to acquire East African Cables. CAK spokesperson David Kemei made the announcement in a notice published in the Kenya Gazette. The approval comes under Section 46(6) of the Competition Act, which allows the authority to authorize such transactions.
This decision follows the takeover of East African Cables by Equity Bank's subsidiaries, TransCentury, following court orders that initially halted the process. Muniu Thoithi and George Weru, appointed as joint receivers and managers by PricewaterhouseCoopers Limited, resumed their roles on June 19, 2025, after a 90-day extension of the court orders expired.
The Court of Appeal had dismissed East African Cables' attempt to prevent the sale of its properties due to a Sh2.2 billion debt on May 23, 2025.
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