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BharatTextile.com ť Mergers & Acquisitions News ť UGANDA: Govt to acquire 47% shares in Phenix Logistics

UGANDA: Govt to acquire 47% shares in Phenix Logistics

The government plans to acquire 47% shares in the garment manufacturing company, Phenix Logistics at a cost of sh5b.

KAMPALA: The government plans to acquire 47% shares in the garment manufacturing company, Phenix Logistics at a cost of sh5b. The finance minister, Dr. Ezra Suruma, has written to the Parliament seeking approval to acquire the shares of Phenix Logistics in form of a debt swap. This translates into 9,272 shares at sh549,774 per share. Dr. Suruma said Phenix owes the Government a sh5b loan. In June, Cabinet agreed to support the company by converting the sh5b, which is...

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