The Competition Authority of Kenya (CAK) has approved the acquisition of KK Security Limited by a Canadian entrepreneur and philanthropist Stephan Crétier.CAK okayed the decision, indicating that it will not negatively impact the market competition for private security and facility management services.
“The Competition Authority of Kenya has approved the proposed acquisition of sole control of Doctor No Parent Limited by Mr. Stephan Crétier, a Canadian entrepreneur and philanthropist, unconditionally,” CAK stated.
Crétier will take complete control of KK Security Limited by acquiring more than 50 percent of the company’s shares, converting the firm’s initial ownership from joint to sole control.
“Post transaction, Mr. Crétier will gain control of the target (over 50% shareholding).The undertakings indicated that the rationale of the transaction is to attract new investors,” CAK said.
Doctor No Parent Limited, incorporated in Canada operates in Kenya through GardaWorld, trading as KK Security Limited.
CAK noted that Crétier, the chief executive officer of GardaWorld Limited, currently has indirect joint control of the company, but does not carry out any other economic activities in Kenya.
The firm undertakings involve provision of security services in Kenya, including manned security guarding, facilities management, canine security, VIP protection and cash in transit.
Under the Facility management the firm provides a wide range of services including common area cleaning service, general building maintenance, pest control, repair and maintenance, and gardening among others.
