UK private equity firm, Helios Investment Partners, announced the acquisition of a 60% shareholding in Telkom Kenya by Jamhuri Holdings Limited (JHL), a company owned 100% by HeIios Investors III, L.P. (a fund advised by Helios Investment Partners LLP) following receipt of regulatory approval. The transaction also included an increase in the shareholding of the Government of Kenya (GoK) in Telkom Kenya from 30% to 40%.
Babatunde Soyoye, co-founder and Managing Partner of Helios Investment Partners, said “Helios is excited about the opportunity to work with all stakeholders to transform Telkom Kenya into a successful telecommunications operator in Kenya. We look forward to partnering with the company’s staff, customers, business partners, our co-shareholder GoK, as well as the Kenyan public in general to progress the development of the telecommunications sector in Kenya.”
Cabinet Secretary for National Treasury, Mr Henry K. Rotich, commenting on the transaction said “We have seen the positive impact of Helios’ investments in other sectors of our economy and we hope and trust that their investment in TKL will have a transformative impact on the operations and standing of the company. We wish Helios well and look forward to interacting further, as we seek to find ways on how best we can achieve our mutual objective of growing TKL into a sustainable and prosperous business.”
Mr Eddy Njoroge, the Chairman of the Board of Directors of Telkom Kenya, said “Telkom Kenya is delighted to welcome Helios into the anchor shareholding of the company. The company is confident that the combination of the Helios’ expertise, resources and experience and track record in investment across the continent will be invaluable contributors to Telkom Kenya’s transformation.”
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