Simba Corporation, the parent company of Villa Rosa Kempiski has completed the acquisition of a 35 per cent stake in Hemingways Holdings Limited (Hemingways) for undisclosed amount.
Simba Corporation, is a diversified business group headquartered in Nairobi with interests in motor sales and service, hospitality, investment and financial services.
The company said the deal will propel its interests in the hospitality sector, from its current three properties: the Olare Mara and Villa Rosa managed by world leading hoteliers, Kempinski, and Acacia Premier Kisumu.
Hemingways Holdings Limited is the parent company of three iconic properties that represent the definitive portfolio of luxury travel in Kenya: Hemingways Watamu, Ol Seki Hemingways Mara and Hemingways Nairobi. The transaction also includes Express Travel Group, a subsidiary of Hemingways, that provides travel management services through its international franchise partnerships with American Express Global Business Travel and Europcar International.
Following completion of the acquisition, Simba will have representation on the Hemingways Holdings board.
BDO were the financial advisors to Simba Corporation. Anjarwalla & Khanna served as legal counsel to Simba Corporation and Amin & Co served as legal counsel to Hemingways on the transaction.