Sharp Daily
No Result
View All Result
Wednesday, September 17, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

CAK greenlights acquisition: Shanta Gold to be taken over by Saturn Resources

Brenda Murungi by Brenda Murungi
May 2, 2024
in News
Reading Time: 1 min read

The Competition Authority of Kenya (CAK) has granted approval for the proposed takeover of Shanta Gold Limited by Saturn Resources Limited. Saturn Resources, is recently established entity in Kenya and specializes in gold exploration and holds mining licenses in the western region of the country.

Backed by its parent company, ETC Group, headquartered in Dubai, it has diverse investments spanning logistics, agrochemicals, insurance, fertilizers, and the distribution of fast-moving consumer goods.

According to CAK’ the acquisition of Shanta Gold by Saturn Resources aligns with local competition regulations. The authority conducted a thorough assessment of the merger’s potential impact on market competition, particularly analyzing the post-merger market share of the involved entities.

On the other hand, Shanta Gold, registered in Guernsey, focuses its mining operations primarily in East Africa, operating two gold mines in Tanzania.

RELATEDPOSTS

How public ratings could shift healthcare dynamics in Kenya

September 4, 2025

Why firms are shedding jobs despite survival

June 19, 2025

CAK concluded that the transaction would not adversely affect the market structure or concentration of the gold prospecting market in western Kenya, as Saturn Resources operates in a distinct market segment. Moreover, CAK determined that the acquisition does not raise concerns regarding public interest, including potential job losses post-merger.

The authority assured that there would be no negative impact on employment following the completion of the transaction. Earlier approval for the takeover was also obtained from the Tanzanian Mining Commission, signaling progress in regulatory clearances for the acquisition by both Shanta Gold and Saturn Resources.

Previous Post

Three high ranking officials of NCPB charged with conspiracy to defraud farmers

Next Post

Nairobi County sets 14-day deadline for land rate defaulters

Brenda Murungi

Brenda Murungi

Related Posts

News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025
Private equity investment business concept
News

Private equity and insurance

September 4, 2025
News

Kick financial goals: Invest with CMMF this football season

August 22, 2025
commercial illustrator
News

Why Kenyan private equity firms should consider continuation funds as an exit strategy

July 23, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025

LATEST STORIES

Sustainable mixed-use developments in Kenya

September 17, 2025

Real Estate project financing models shaping successful developments

September 12, 2025

Alternative investments: Opportunities and risks

September 12, 2025

Mid-September momentum: CMMF posts strong yields and growing trust

September 12, 2025

Unlocking Home Ownership Through Retirement Savings in Kenya

September 12, 2025

The role of FDIs in driving sustainable development

September 11, 2025

How increased oversight can clean up the insurance sector without stifling innovation

September 11, 2025

Why retail investors hold the key to Kenya’s capital market growth

September 11, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024