The sale of 680 Hotel to Maanzoni Lodge Limited and Christopher Musyoka has been approved by Kenya’s Competition Authority (CAK).
The approval comes with no conditions and follows an investigation that determined the transaction would have no negative public interest implications.
During the merger analysis, CAK considered the impact of the transaction on employment opportunities as well as the impact on competitiveness among small and medium-sized enterprises (SMEs).
The transaction is expected to save the Mayhouse Limited hospitality establishment from the negative effects of the COVID-19 pandemic.
The proposed transaction entails the acquisition of Mayhourse’s entire issued share capital, resulting in a change of control.
The transaction is valued at Ksh.1.2 billion.
The 680 Hotel, located in Nairobi’s Central Business District (CBD), is linked to businessman Jagdesh Patel.
Maazoni Lodge is meanwhile associated with business mogul Chris Musau Musyoka who runs a hospitality business (of the same name) in Machakos County.
