Sameer Investments Ltd. entered into a conditional share sale agreement to acquire an additional 14.9% stake in Sameer Africa Ltd from Bridgestone Corp. (TSE:5108) for approximately KES 210 million in cash on October 29, 2013. Sameer Investments will acquire an additional 41.5 million shares for KES 5 per share. The deal is subject to CMA approval of the transaction, the grant of exemption from making a take-over offer and approval by the Board of Directors of Sameer Investments. The transaction is expected to complete in December this year.

As of November 29, 2013, Sameer Africa's Board has approved the transaction. Baker Tilly Merali's, Financial Advisory Arm acted as financial advisor for Sameer Africa Ltd.

Sameer Investments Ltd. completed the acquisition of an additional 14.9% stake in Sameer Africa Ltd from Bridgestone Corp. (TSE:5108) on December 24, 2013.