Simba Corporation has completed the acquisition of a 35% shareholding in Hemingways Holdings Limited as it grows its interests in hospitality.
The minority stake acquisition is a strategic investment that will provide additional capital to fund growth and expansion within the Hemingways group of companies.
The acquisition signals a bold move by Simba to grow from its current three properties: the Olare Mara, Villa Rosa Kempinski, and Acacia Premier Kisumu.
According to Adil Popat, Chief Executive of Simba Corporation, Hemingways and Simba intend to achieve long-term sustained growth and continue to develop best-in-class hospitality assets built to the highest international standards.
“Since our entry into the Hospitality sector in 2010, we have been focused on creating world class experiences for our guests,” said, Popat.
The transaction also includes Express Travel Group, a subsidiary of Hemingways, that provides comprehensive and high quality travel management services.
“We both share an entrepreneurial outlook and ambition for the hospitality industry and this partnership can only enhance both our objectives to be the leading luxury hospitality operators in the region,” said Richard Evans, Hemingways Holdings Chairman.
Following completion of the acquisition, Simba will now have representation on the Hemingways Holdings board.