April 1, 2014 / 7:28 AM / 3 years ago

TransCentury sells its Rift Valley Railways stake to Citadel

NAIROBI, April 1 (Reuters) - Kenya’s TransCentury has sold its 34 percent stake in Rift Valley Railways to Egypt’s Citadel Capital, it said on Tuesday.

TransCentury held a stake in Rift Valley Railways (RVR), the operator of the Kenya-Uganda railway line, through its subsidiary Safari Rail Company and sold the shareholding to Citadel Capital’s subsidiary Africa Railways.

The sale, whose value was not disclosed, lifts Africa Railways’ ownership in RVR to 85 percent. (Reporting by Drazen Jorgic; Editing by Duncan Miriri and Mark Potter)

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