Business Daily | by Victor Juma
French multinational Rubis Énergie has saved €10 million (Sh1.2 billion) in its takeover of Kenya’s oil marketer Gulf Energy after negotiating the buyout price downwards.
Rubis says the deal, which was completed early this year, had a provision that allowed it to change the final price. The reason for the price adjustment was not disclosed.
The multinational acquired Gulf through KenolKobil – its first subsidiary in the Kenyan market — which it had bought earlier at a cost of $353 million (Sh38.3 billion)…
