Umeme on Sale
Electricity distributor, Umeme, is set to sell majority of its shares to a wealthy Middle East-based Fund known as Egypt Kuwait Holding Company (EKHC).
Umeme has voluntarily suspended trading of its shares on stock exchange market in order not to disrupt the transaction.
“In line with its obligations under the Uganda Securities Exchange Listing Rules, 2003, Umeme Limited (the “Company”) informs the public that Umeme Holdings Limited is currently contemplating a sale of its shares in the Company,” Uganda Stock Exchange (USE) said in a statement on Friday
“Any agreement in respect of the transaction will be subject to any necessary regulatory approvals. Shareholders and potential investors are hereby informed”