The Capital Markets Authority (CMA) of Kenya approved the Take Over offer document of Dimension Data Holdings Plc to Access Kenya Group Limited. The Take Over offer document concerned the acquisition of 100% or all of the issued ordinary shares of Dimension Data Holdings.
The CMA was satisfied with the Offer Document, Independent Financial Advisers' Circular, and Shareholders' Circular. The Kenyan regulator further noted that said documents would help Access Kenya Group Limited shareholders, board of directors, and professional advisers to make informed decision of whether or not they should accept the offer.
Dimension Data Holdings Plc was expected to serve the approved documents to Access Kenya Group Limited within five days from the date of approval. Access Kenya Group Limited' board has unanimously recommended for its acceptance.
The approximate value of the take over offer is at US$35.3 million. In addition, 100% shares would be held by Dimension Data Holdings if Access Kenya Group Limited's shareholders approve the Ksh14 per ordinary share as offer price.
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