DEG acquires 5.4% of Zep-Re
The German investment and development company, DEG has acquired 5.4% in Zep-Re's capital bringing its total stake in the Kenyan reinsurer to 14.93%.
The agreement between the two companies was signed for an amount of 1.4 billion KES (14.07 million USD).
This investment comes after Kenya Re, the majority shareholder of Zep Re, acquired in June 2016, additional shares of 4.44% for a value of 1.3 billion KES (13.13 million USD) thus controling, 19.88% of the reinsurance company.
Zep Re showed an 11.04% increase in its 2015 turnover, which went from 125 million KES (1.4 million USD) in 2014 to 138.8 million KES (1.38 million USD).
Read also:
