The Competition Authority of Kenya (CAK) has approved the unconditional establishment of a joint venture between Amstel Trading Company Limited and Kingsbourne Assets Limited.
Amstel Trading Company Limited (Amstel), one of the joint venture’s parent companies, is incorporated in Kenya, while Kingsbourne Assets Limited (KAL), the other parent company, is incorporated in the British Virgin Islands.
Amstel imports photocopy paper from paper mills in Indonesia, which are affiliated with Kingsbourne Assets Limited, for sale in the Kenyan market. KAL, on the other hand, is an investment holding company that owns a range of technology, expertise, and intellectual property rights related to the manufacturing, conversion, supply, and sale of pulp and paper products in Indonesia through its affiliates. KAL has no operations in Kenya.
“The proposed transaction involves the establishment of a full-function JV between Amstel and KAL. According to the parties, the JV will establish a paper converting facility in Kenya to manufacture photocopy paper, thereby reducing delivery time of photocopy paper into the market. The transaction will also enable Amstel expand its distribution of photocopy paper beyond the Kenyan market, specifically in the East African Community,” CAK said
