Helios Investment Partners has offloaded its entire 60 per cent stake in Telkom Kenya, Capital News reports.
Helios through Jamhuri Holdings Limited (JHL), a company owned 100% by HeIios Investors acquired a majority stake in Telkom Kenya back in 2016. The transaction also included an increase in the shareholding of the Kenyan Government in Telkom from 30% to 40%.
During the acquisition, Babatunde Soyoye, co-founder and Managing Partner of Helios Investment Partners, said noted that Helios was excited about the opportunity to work with all stakeholders to transform Telkom Kenya into a successful telecommunications operator in Kenya
The move by the British Investment firm to exit Telkom now makes the company a fully owned state parastatal.
A senior government official confirmed Helio’s exit from Telkom saying “It is true Helios has exited Telkom,”
“Telkom is now owned fully by the Government of Kenya because Helios has offloaded its 60 per cent stake.” the official told Capital News.
Capital News reports that Jamhuri Holdings Limited notified the government of its intention to exit Telkom in August 2021.
”Consequently, Treasury Cabinet Secretary Ukur Yattani wrote to Telkom Kenya Chairman Eddy Njoroge, notifying him of the exit with the government purchase of 71.2 million shares.” the report says.