{"id":13565,"date":"2014-04-01T06:36:58","date_gmt":"2014-04-01T06:36:58","guid":{"rendered":"https:\/\/new.igihe.com\/egyptian-firm-takes-over-rvr-management\/"},"modified":"2014-04-01T06:37:11","modified_gmt":"2014-04-01T06:37:11","slug":"egyptian-firm-takes-over-rvr-management","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/egyptian-firm-takes-over-rvr-management\/","title":{"rendered":"Egyptian firm Takes over RVR Management"},"content":{"rendered":"<p>{{TransCentury has exited Rift Valley Railways (RVR) after it sold its shareholding in the firm to Citadel Capital of Egypt.}}<\/p>\n<p>The listed firm sold its 34% stake in RVR to Citadel Capital but it did not indicate the value of the transaction which will result in Citadel\u2019s shareholding increasing to 85% from 51% while Uganda\u2019s Bomi Holdings will hold on to the remaining 15%.<\/p>\n<p>TransCentury decided to sell its investment which had started to pay off after a seven-year wait that has seen shareholding change hands amongst a number of investors.<\/p>\n<p>\u201cWe have been part of the RVR story for the past seven years and helped steer the company through some very challenging times. <\/p>\n<p>RVR is vital to the economies of Kenya and Uganda and TransCentury remains fully in support of the Company. <\/p>\n<p>We wish Citadel Capital and the team at RVR all the best as they continue to see through the turnaround of the railway,\u201d said TransCentury chairman Zephaniah Gitau Mbugua in a statement.<\/p>\n<p>TransCentury first invested in RVR in December 2006 when it acquired a 20% stake. <\/p>\n<p>This later increased to 34% in May 2010, the same year that also saw Citadel become a shareholder.<\/p>\n<figure class=\"spip-document spip-document-5009 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/rvr.jpg\" alt=\"\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>{{TransCentury has exited Rift Valley Railways (RVR) after it sold its shareholding in the firm to Citadel Capital of Egypt.}} The listed firm sold its 34% stake in RVR to Citadel Capital but it did not indicate the value of the transaction which will result in Citadel\u2019s shareholding increasing to 85% from 51% while Uganda\u2019s [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2000051351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[99],"byline":[334],"hashtag":[],"class_list":["post-13565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-greatlakesnews","byline-igihe-reporter"],"bylines":[{"id":334,"name":"IGIHE Reporter","slug":"igihe-reporter","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default 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