KCB Investment Bank Scores Another Major Deal as Cable Experts Moves to Acquire East African Cables Stake
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KCB Investment Bank has added another major corporate transaction to its growing list of deals after the Kenya Pipeline Company Initial Public Offering and the Kenya Mortgage Refinance Company Medium Term Note Programme, following a new acquisition involving Cable Experts Limited and East African Cables PLC.
Cable Experts Limited is set to acquire a 68.37% stake in East African Cables from TransCentury PLC, which is currently under receivership.
The proposed acquisition was announced on Tuesday, May 19 2026, through a notice issued under the Capital Markets (Take-overs and Mergers) Regulations, 2002.
According to the announcement, Cable Experts signed a Share Purchase Agreement on May 19, 2026 to buy the entire stake held by Cable Holdings Kenya Limited, a wholly owned subsidiary of TransCentury.
The transaction involves 173,071,149 ordinary shares in East African Cables.
East African Cables, which is listed on the Nairobi Securities Exchange (NSE), is currently under administration, while TransCentury is under receivership.
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Cable Experts said the transaction is meant to help rescue and revive East African Cables’ operations.
The company noted that part of the deal includes clearing East African Cables’ secured bank debts to allow the business to continue operating as a going concern.
Cable Experts also said its shareholders have experience in the cable trading business and plan to invest further in East African Cables.
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The company added that it intends to maintain and increase the workforce while restoring East African Cables as a leading cable manufacturer in the market.
As part of the transaction, Cable Experts has applied for exemption from making a mandatory takeover offer to minority shareholders.
Under Kenyan takeover regulations, a company acquiring effective control of a listed firm is normally required to make an offer to buy shares held by other shareholders.
However, Cable Experts argued that the acquisition is being carried out within insolvency and rescue proceedings supervised by court-appointed receivers and administrators.
The company said the deal is intended to preserve East African Cables’ business and protect the wider interests of shareholders and the public.
Trading Suspension to Continue
Trading of shares for both East African Cables and TransCentury remains suspended at the Nairobi Securities Exchange.
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The suspension is expected to continue until the completion of the transaction and the end of the administration process.
Cable Experts said it has already engaged the Capital Markets Authority and the NSE on plans for the orderly resumption of trading after the deal is finalised.
The transaction will still require approvals from the Capital Markets Authority and the Competition Authority of Kenya before completion.
KCB Investment Bank acted as the financial adviser in the transaction, while TripleOKLaw served as the legal adviser
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KCB Group CEO Paul Russo speaking at a past function. PHOTO/KCB