Kenya: Oman Trading takes 40 percent in Hass Petroleum
Issue 348
- 16 Jun 2017
| 2 minute read
Kenyan oil marketer Hass Petroleum Group has sold a 40% stake to Oman Trading International (OTI) as it seeks funds to boost its capital and strengthen its operations in east and central Africa. The transaction, the value of which was not disclosed, is subject to regulatory approvals in the countries where Hass operates. According to data from the Petroleum Institute of East Africa for January-September 2016, Hass had just 1.9% market share of Kenyan petroleum sales, 2.7% of liquefied petroleum gas, and 0.5% of lubricants.
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