Kenya: Leapfrog gets green light to buy Resolution Insurance
Source: Middle East Insurance Review | May 2015
The Competition Authority of Kenya has approved the buyout of Resolution Insurance by private equity firm Leapfrog Investments through its holding company Resolution Health East Africa. The deal, announced last November, is worth close to US$19 million.
Leapfrog now owns a 61.2% stake in Resolution Insurance following the conclusion of the deal, which will see Resolution founder and CEO Peter Nduati retain a 20% shareholding, from 75% previously.