Olympia Capital eyes another acquisition

source: Mmegi
STAFF WRITER

The takeover master in the publicly trading construction sector, Olympia Capital Corporation (OCC), says it is eyeing another acquisition in Cape Town, South Africa, which is expected to make its shareholders smile, as it will not ask them to part with any thebe.

The Chief Executive Officer of the company, Michael Matu, says the acquisition of the unnamed concern, which is in the manufacturing industry in South Africa, is in the final stages of completion.

“This acquisition will be totally funded by debt, internal resources and an advance from our parent company, Olympia Capital Holdings Limited, which is quoted in the main board (of the) Nairobi Stock Exchange (NSE) and has a successful US$6.8 million (about P43.8 million) rights issue in late 2007,” explained Matu.

“We do not intend to seek further funds from [continue reading]



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