Nairobi writer on Banking, Finance, Technology, and Investments
Friday, April 05, 2013
Hilton, Intercontinental, KWAL Privatizations
Privatizations to be concluded by the Kenya Government by June
- The Industrial & Development Corporation (ICDC) will sell
26% of Kenya Wine Agencies Limited (KWAL to Distell of South Africa and 4% to
- The Kenya Tourist Development Corporation (KTDC) will sell 40%
of the 287-room Hilton Hotel, 34% of 389-room Intercontinental Hotel (both in
Nairobi) and 39% of Mountain Lodge which is located in Nyeri and managed by TPS Serena to fellow shareholders.
IPO's will result, but the remaining shares in KWAL may be sold to the public
within two to four years if their performance improves.