Mauritius’ IBL Group to close major Kenyan deal this month

Mauritian conglomerate IBL Group expects to finalise its acquisition of a stake in Nairobi-based pharmaceuticals distributor Harley’s by the end of this month.

The deal, disclosed earlier this year, involves a partnership with French sovereign wealth fund Proparco.

IBL, listed on the Stock Exchange of Mauritius, has significantly increased its investment activity in Kenya and the East African region since June 2022.

This includes acquiring stakes in companies like Naivas Supermarkets, Equator Energy, and Harley’s.

The conglomerate, which established a Nairobi office in 2018, aims to expand its presence in East Africa through strategic acquisitions.

Source: Business Daily Africa