Kenyan-based petroleum marketing Company, KenolKobil is set to acquire 33 fuel retail outlets from Delta Petroleum in Uganda and Rwanda.
The company recently signed a deal worth more than $10m to acquire the outlets which would increase its footprint in Uganda and Rwanda.
The 33 stations to be acquired include 23 fuel stations from Delta Petroleum in Uganda and 10 from Delta in Rwanda.
The deal will help the company to expand and will contribute its bottom line, Kobil Uganda Country Manager, Mr. Olivier Gatera has said.
Gatera who spoke to the Daily Monitor Newspaper, said the acquisitions are in line with the board’s growth strategy through organic and inorganic retail expansion.
Gatera said that KenolKobil’s network will increase to 433 in East Africa when it acquires the outlets which it started making moves to acquire since February this year and hopes to complete by March 2019 if things go as planned.