Competition watchdog approves 680 Hotel sale

The Competition Authority of Kenya (CAK) has approved the sale of 680 Hotel to Maanzoni Lodge Limited and Christopher Musyoka.

The nod by the competition watchdog has no conditions and follows an inquiry establishing the transaction would have no negative public interest issues.

CAK considered the impact of the transaction on employment opportunities and the impact on competitiveness among small and medium enterprises (SMEs) during the merger analysis.

The deal is expected to salvage the hospitality establishment which trades as Mayhouse Limited from the negative effect brought on the sector by the COVID-19 pandemic.

The proposed transaction involves the acquisition of the entire issued share capital in Mayhourse resulting in a change of control.

The transaction has been estimated at Ksh.1.2 billion.

The 680 Hotel which sits at the heart of Nairobi’s Central Business District (CBD) is associated with businessman Jagdesh Patel.

Maazoni Lodge is meanwhile associated with business mogul Chris Musau Musyoka who runs a hospitality business (of the same name) in Machakos County.