Alcazar to make Telkom Kenya investment

29 Nov 2007

Dubai-based private equity group Alcazar Capital has said it intends to invest USD58.5 million in Telkom Kenya as part of the France Telecom-led consortium which last week won a 51% stake in the incumbent telco with a USD390 million offer. The deal is expected to be closed by 12 December. Alcazar, owned by Kuwaiti logistics firm Agility is contributing 15% towards the transaction. This is the private equity company’s second foray into the telecoms sector, after it paid USD250 million for a 51% stake in Iraqi telco Korek Telecom, which operates mobile phone services in Kurdistan and recently won a national licence.

Kenya, Telkom Kenya