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MX Africa (MXAL), has entered into SPA to acquire the remaining 49 per cent stake in the Kenya-based Quantum Lubricants (QLL).
MXAL is the Kenya-based wholly owned subsidiary of Maximus International (MIL).
Earlier, in 2019, MXAL had acquired a 51 per cent equity stake in QLL which paved its entry into lubricant manufacturing in the African markets. With the ongoing acquisition of the 49 per cent, MXAL will take total control over QLL’s entire operations.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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