Bima Holdings Ltd, an investment vehicle associated with the owners of Quick Mart, has received regulatory approval from the Competition Authority of Kenya (CAK) to acquire Minet (Mauritius) Holdings Ltd. This acquisition marks the expansion of Adenia Partners' financial services portfolio in Kenya through the insurance brokerage and pension administration firm.

• The CAK approved the acquisition of 100% of Minet (Mauritius) Holdings Ltd.
• Adenia Partners, the private-equity firm behind Bima Holdings Ltd, already controls Quick Mart Ltd, ESS Equipment Kenya Ltd, and Africa Biosystems Ltd in Kenya.
• Minet Kenya holds approximately 6% of the general-insurance brokerage market, less than 1% in long-term insurance, and 4.89% in pension administration.
• The deal meets the CAK’s merger-notification threshold, with combined assets and turnover exceeding KSh 1 billion.