Wilderness Holdings Ltd, a Botswana-based firm, has acquired a 51 per cent stake in Maasai Mara camps firm, Governor’s Camp Group of Companies, as it seeks to expand its business in East Africa.
Wilderness said it has concluded agreements with Monitor International Ltd (the vendor) to acquire 51 per cent of the shares and shareholder loans of Governor’s local subsidiaries in Kenya and Rwanda.
“The above acquisitions constitute the transaction that the above-named companies own and operate the Governors’ Camp Collection of camps and lodges in East Africa,” says the statement.
Wilderness said the remaining 49 per cent of the equity would continue to be held by the Monitor that represent the interests of the founders as well as previous and present management.
The acquisition involves stakes in Musiara Ltd, Governors’ Aviation Limited, Goodison Ninety One Limited, Goodison Forty Two Limited, all registered and operating in Kenya, as well as Governors’ Camps Rwanda Ltd and Governors’ Safaris Rwanda Ltd.
The Governors’ Camp Collection, founded in 1976, owns and operates a selection of Safari camps and lodges in East Africa’s parks. In Kenya, it is located in the Maasai Mara National Reserve.
The brand expanded into Rwanda in 2007 through the addition of Sabyinyo Silverback Lodge, a mountain gorilla trekking site in Virunga National Park.
Wilderness Group’s current operations are concentrated in southern Africa, and the management says the acquisition of a controlling stake in the Governors’ business represents a compelling opportunity for expansion into East Africa.
Credit: Business Daily