Browsing: Chemi and Cotex Industries Limited

Unilever Overseas Holdings B.V has gotten a major boost in its quest to expand its portfolio with the acquisition of a majority stake in Chemi & Cotex Kenya Limited, a subsidiary of Tanzania’s Chemi and Cotex Industries Limited.

UK headquartered manufacturer–Unilever Overseas Holdings B.V has gotten a major boost in its quest to expand its portfolio in Kenya and the East Africa region.

This follows the approval by the Competition Authority of Kenya (CAK) to acquire a majority stake (90%) in Chemi & Cotex Kenya Limited, a subsidiary of Tanzania’s Chemi and Cotex Industries Limited.

The firm is involved in the distribution of cosmetics, beauty, hair, oral care products and food products, one of East Africa’s leading fast moving consumer goods companies

Unilever Overseas Holdings B.V (Unilever B.V) on the other hand, is a wholly owned subsidiary of Unilever Plc which is listed on the London Stock Exchange and the New York Stock Exchange.

With the approval, Unilever will now move to assume direct control of the investment company and indirect control over Chemi & Cotex Kenya Limited.

The parties’ combined and relevant turnover for the preceding year …