The Competition Authority of Kenya (CAK) has approved the proposed acquisition of sole control of ICEA Lion Insurance Holdings Limited by First Chartered Securities Capital Limited.
The approval was issued under Section 46(6) of the Competition Act and published through Gazette Notice No. 15918.
According to the authority, the transaction was approved under Section 46(6)(a)(ii) of the Act, allowing First Chartered Securities Capital to take control of ICEA Lion Insurance Holdings.
The acquisition will be implemented in accordance with the terms and conditions set out in the approved transaction.
The approval marks a change in control of ICEA Lion Insurance Holdings, subject to compliance with the conditions attached to the authority’s decision.
