Acquisition deal for oil pipelines in Africa
Aliko Dangote announced the acquisition of a 25% stake in Kenya Pipeline Company (KPC) for about 42.5 billion Kenyan shillings ($327 million). Kenya's government plans to use the proceeds to support projects in roads, energy, ports and other infrastructure.
Why it matters: The deal places private capital in Kenya's energy infrastructure as Nairobi sells state assets to fund development projects.