Kenya’s competition authority has given the go-ahead for UK based Actus Holding to purchase 22 per cent ownership in Riara schools. The deal will give Actus Holding the right to vote on all matters relating to the educational institution as well as access to the school’s financial records.
Riara group operates several educational institutions in Nairobi ranging from elementary level schools to tertiary level institutions. Through the partnership, Riara will be able to expand its network of schools through out the country and beyond.
Actus holding will supply funds needed to revamp Riara schools and grow the brand into a reputable education provider in the East African Region.
Riara’s CEO noted that the institution will continue to operate as usual and there will be no changes to the school’s management post-acquisition. The value of the transaction has not been revealed.
CAK noted that the two merging entities recorded a combined annual revenue of over KSh1 billion in 2017.
