CAK approves joint venture between Amstel and Kingsbourne companies

Amstel Trading Company Limited (Amstel), joint venture parent company one, is incorporated in Kenya while Kingsbourne Assets Limited (KAL), joint venture parent company two, is incorporated in British Virgin Islands. 

Amstel imports photocopy paper into the Kenyan market for sale from paper mills in Indonesia, Kingsbourne Assets Limited’s affiliates. 

KAL on the other hand is an investment holding company which owns a range of technology, expertise and intellectual property rights related to manufacturing, conversion, supplying and sales of pulp and paper products in Indonesia, though its affiliates. It has no operations in Kenya.

“The proposed transaction involves the establishment of a full-function JV between Amstel and KAL. According to the parties, the JV will establish a paper converting facility in Kenya to manufacture photocopy paper, thereby reducing delivery time of photocopy paper into the market. The transaction will also enable Amstel expand its distribution of photocopy paper beyond the Kenyan market, specifically in the East African Community,” CAK said.