Old Mutual set to buy an additional 37% from PE funds exiting UAP...Walmart was to Buffett what UAP is to me ...*sobs remembering the opportunity*

Is a buy-out in the offing? Are you ready for the same...having priced your shares accordingly? i doubt Muguiyi/Kiarie will sell-out though...

Seems Old Mutual is applying a moderately aggressive acquistion strategy in Africa...Safaricom (minority investment via Stock Market) Faulu, UAP, Nedbank, Old Mutual SA etc etc...what's next

Old Mutual Plc (OML), which earmarked 4.3 billion rand ($374 million) for acquisitions in Africa, increased its stake in Kenya’s UAP Holdings Ltd., meaning that the insurer has now spent more than half of that war chest.

Old Mutual, which is expanding in Africa to profit from the continent’s fastest-growing economies, will now hold 60.7 percent of UAP after purchasing a further 37.3 percent stake for $155.5 million in cash, the London-based insurer said in a statement Monday. The transaction takes its investment in UAP this month to $253 million.

“The majority stake we have secured in UAP, combined with the existing Old Mutual businesses in Kenya, will provide the Group with the scale and product breadth to capitalize on the significant growth expected in the region.”

In Kenya, East Africa’s largest economy, UAP has the third-biggest property and casualty market share, the second-ranked health insurance business, a large property investment portfolio and a fast-growing life insurance business, Old Mutual said. UAP also has operations in Uganda, Rwanda, Tanzania, South Sudan and the Democratic Republic of Congo. This deal follows Old Mutual’s acquisition of microfinance company Faulu Kenya DTM Ltd.

At a price of approximately 180bob per share, that is a cool 200% gain in two years for some of us who bought via private placement.
Good to hear the plans for listing are on track| but what will be the listed entity? Old mutual or UAP.
This year i must attend the AGM, it is vital to ask questions and get to know where we are headed to.

In all this news and realignments I give credit to insurance group.They have come from far and overtaken giants to become third position and now heading towards second position in terms of the gross written premiums

"Mr Wanjui said UAP would proceed with earlier plans to list on the Nairobi Securities Exchange despite Old Mutual’s acquisition of a majority stake.

“Nothing changes with this transaction. We are still keen on listing,” he said, adding that the company would try to meet the target of joining the Nairobi bourse later this year. UAP is currently trading on the over-the-counter (OTC) market at Sh140."

RINK: Old Mutual raises stake in UAP