KenolKobil Plc signed a share purchase agreement to acquire Gulf Energy Holdings Limited from Gulf Energy Limited on November 4, 2019. In 2018, Gulf Energy Limited generated a turnover of $320 million. The final completion is subject to the prior approval of the Kenyan regulatory and competition authorities. KenolKobil Plc completed the acquisition of Gulf Energy Holdings Limited from Gulf Energy Limited on December 13, 2019. The transaction was approved by the Kenyan Competition Authority and Energy Regulatory Commission.