Kenya based fund manager, ICEA Lion Asset Management has completed the takeover of Stanlib I-REIT from Stanlib Kenya Limited.
ICEA will however not assume any of the debts or liabilities of Stanlib Kenya in connection with the REIT.
Stanlib Kenya shall retain responsibility for any liabilities attributable to the fund manager which may have lawfully arisen or accrued prior to May 18, 2020.
“The parties are now pleased to announce that all the conditions precedent in relation to the transfer of the management of the REIT (including the approvals of the Capital Markets Authority and the Competition Authority of Kenya) have been fulfilled with the result that such transfers became effective on 18th May 2020,” ICEA lion and Stanlib Kenya said in a joint statement Thursday.
