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This was an exceptionally convoluted and time-consuming deal involving target companies in five jurisdictions with diverse shareholders and the need for regulatory compliance across several jurisdictions. | The Sadolin Group of Companies, major manufacturers and suppliers of paints and coatings in East Africa, was sold to Kansai Plascon Africa Limited, a subsidiary of Japan’s Kansai Paint, a paint and coating manufacturer listed on the Tokyo Stock Exchange. CMS in Kenya advised the shareholders of The Sadolin Group of Companies, having operations across the East African Region, on the sale of their 100% ownership in the business to Kansai. This was one of the largest deals in East Africa in recent years. Hamish Keith, lead partner on this deal and Senior Partner based in Nairobi, said, “This was an exceptionally convoluted and time-consuming deal involving target companies in five jurisdictions with diverse shareholders and the need for regulatory compliance across several jurisdictions.” The transaction is part of Kansai’s effort to diversify its business into new markets and to gain a stronger foothold in paints for trains and industrial machinery. It also represents a key step in Japan’s attempts to grow its influence in Africa. |
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