Kenyan downstream oil company KenolKobil has been acquired by French energy company Rubis Energie, part of storage to energy company Rubis.
Rubis pays $0.23 per share for 408.2 million share offers from shareholders equivalent to a 26.32 percent stake that it doesn't own.
KenolKobil will receive about 35.6 billion Kenyan shillings ($356 million) from Rubis Energie.
The deal will be completed on March 11.