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Centum RE secures Sh17 billion investment from Luxembourg firm

CENTUM-HF
CENTUM-HF
Photo credit: FILE PHOTO | NMG
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By  Victor Juma

What you need to know:

  • The transaction will mark the parent firm –Centum Investment Company Plc #ticker:CTUM— partial exit from the subsidiary through which it holds most of its real estate assets.
  • Centum Re will be listing at an undisclosed exchange at the point of accessing the funds from the foreign institutional investor, according to the share sale agreement.

Centum Real Estate has signed an agreement to raise Sh17 billion from Luxembourg-based private equity firm GEM Global Yield LLC CSC through a partial share sale.

The transaction will mark the parent firm –Centum Investment Company Plc #ticker:CTUM— partial exit from the subsidiary through which it holds most of its real estate assets.

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