In a statement issued by Longhorn Publishers on November 15, 2017 the company said that it has entered negotiations for the sale of its entire 92% shareholding in Law Africa Publishing Limited after the receipt of a letter of intent from a prospective purchaser.
The intention to dispose the subsidiary comes barely under two years (June 2016) since Longhorn purchased a controlling stake (74%) in Law Africa. If the deal goes through it will see Law Africa cease in becoming a subsidiary of Longhorn Publishers.
Law Africa Publishing Limited is a private company that carries on business as a legal content publisher and trader in both print and electronic books. It provides legal and related information and services in Kenya, Uganda and Tanzania. It has three wholly owned subsidiaries: Law Africa Publishing (Uganda) Limited, Law Africa Publishing Limited (Tanzania) and Nathan Books Limited.
Longhorn closed Friday’s (November 17, 2017) trading at KES 5.95 per share, -0.83% below its 52 week high of KES 6.00 set on November 13, 2017. Longhorn is up 24% on a year-to-date basis.
Longhorn is majority owned by Centum Investments (60 percent).