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The Aga Khan Economic Development Fund (AKFED) has submitted an offer to fully acquire pan-African submarine cable operator SEACOM
for approximately $603 million.
AKFED seeks to acquire all shares
of the cable operator through its subsidiaries Industrial Promotion Services (IPS) and Jubilee Holdings, according to a notice of inquiry from the regional competition authority, the COMESA Competition Commission.
HOWEVER, COMESA REVEALED PLANS TO CONDUCT AN INVESTIGATION INTO THE TAKEOVER OFFER OF AKFED TO DETERMINE WHETHER THE TRANSACTION HAS THE POTENTIAL TO PREVENT/MITIGATE COMPETITION AND HARM THE PUBLIC INTEREST
.
CURRENTLY, AKFED ALREADY OWNS A LARGE STAKE
IN SEACOM THROUGH IPS.
The Aga Khan Economic Development Fund (AKFED) has submitted an offer to fully acquire pan-African submarine cable operator SEACOM
for approximately $603 million.
AKFED seeks to acquire all shares
of the cable operator through its subsidiaries Industrial Promotion Services (IPS) and Jubilee Holdings, according to a notice of inquiry from the regional competition authority, the COMESA Competition Commission.
HOWEVER, COMESA REVEALED PLANS TO CONDUCT AN INVESTIGATION INTO THE TAKEOVER OFFER OF AKFED TO DETERMINE WHETHER THE TRANSACTION HAS THE POTENTIAL TO PREVENT/MITIGATE COMPETITION AND HARM THE PUBLIC INTEREST
.
CURRENTLY, AKFED ALREADY OWNS A LARGE STAKE
IN SEACOM THROUGH IPS.
