Is Rubis owned by the Kenyatta family?

[mwashao]

It is worth noting that for the uninitiated, Rubis appears to be a new company that has quickly become one of the largest if not the largest oil marketer/petrol station chain in the country.After all, it has only been in the country for a little under three years. Those who don’t read the pink business newspapers may however have missed the story, and thus attribute this rapid rise to the top of Kenya’s retail petroleum industry to some kind of ‘dynasty’ money. The truth however is that Rubis is a 30+ year old French company, founded all the way back in 1990. In 2019, the company entered the Kenyan market by acquiring 100% of KenolKobil for $353 million (about Ksh36 billion then). According to the Competition Authority of Kenya, this was paid in cash, not stock, meaning the Kenyan owners of KenolKobil got no shares in Rubis Energy.

Rubis was however not done shopping. In late 2019, they completed the acquisition of Gulf Energy for €129 million (Sh16.4 billion). In total, the company spent just over Ksh55 billion to enter the Kenyan market, gaining control of 190 KenolKobil petrol stations and 46 Gulf Energy petrol stations, as well as all their fuel depots, LPG storage, filling plants etc. In the process, Rubis became the largest petroleum company in Kenya by market share, leapfrogging both Total and Vivo Energy (Shell). Further, the company committed Sh2.4 billion to rebrand all these stations to ‘Rubis’ by end of 2022. For most Kenyans, this has been the most visible part of the transaction. Since we have established the premise in which Rubis has taken over Kenyan highways in a such a short period of time, who really owns the company. Good thing it is a publicly traded company in France, with a public list of its shareholders. The major shareholders are all French entities. However, the vast majority of shares (85.74%) are free float, traded on France’s stock market – EURONEXT PARIS

Rubis own financial statements state that they own and control 100% of the Kenyan operation. So, unless some Kenyans have bought Rubis shares on the Paris Stock Exchange, we don’t believe that’s the case.

 

[Ngimanene na Muchere]

Hii ni ile familia na shell company off shore zao, unadhani kwa nini Konyagi hawajawahi ongea kuzihusu?

 

[Field Marshal]

View attachment 58540
It is worth noting that for the uninitiated, Rubis appears to be a new company that has quickly become one of the largest if not the largest oil marketer/petrol station chain in the country.After all, it has only been in the country for a little under three years. Those who don’t read the pink business newspapers may however have missed the story, and thus attribute this rapid rise to the top of Kenya’s retail petroleum industry to some kind of ‘dynasty’ money. The truth however is that Rubis is a 30+ year old French company, founded all the way back in 1990. In 2019, the company entered the Kenyan market by acquiring 100% of KenolKobil for $353 million (about Ksh36 billion then). According to the Competition Authority of Kenya, this was paid in cash, not stock, meaning the Kenyan owners of KenolKobil got no shares in Rubis Energy.

Rubis was however not done shopping. In late 2019, they completed the acquisition of Gulf Energy for €129 million (Sh16.4 billion). In total, the company spent just over Ksh55 billion to enter the Kenyan market, gaining control of 190 KenolKobil petrol stations and 46 Gulf Energy petrol stations, as well as all their fuel depots, LPG storage, filling plants etc. In the process, Rubis became the largest petroleum company in Kenya by market share, leapfrogging both Total and Vivo Energy (Shell). Further, the company committed Sh2.4 billion to rebrand all these stations to ‘Rubis’ by end of 2022. For most Kenyans, this has been the most visible part of the transaction. Since we have established the premise in which Rubis has taken over Kenyan highways in a such a short period of time, who really owns the company. Good thing it is a publicly traded company in France, with a public list of its shareholders. The major shareholders are all French entities. However, the vast majority of shares (85.74%) are free float, traded on France’s stock market – EURONEXT PARIS

Rubis own financial statements state that they own and control 100% of the Kenyan operation. So, unless some Kenyans have bought Rubis shares on the Paris Stock Exchange, we don’t believe that’s the case.

Utachomwa bro. Low IQ bonoboz don't want facts - they love their mogoka base rumours as much as they do their disease-riven unhygienic pussies.

So, Mama Ngima owns KPLC, and Uhuru owns Rubis.

Ferk facts.

 

[Aviator]

View attachment 58540
It is worth noting that for the uninitiated, Rubis appears to be a new company that has quickly become one of the largest if not the largest oil marketer/petrol station chain in the country.After all, it has only been in the country for a little under three years. Those who don’t read the pink business newspapers may however have missed the story, and thus attribute this rapid rise to the top of Kenya’s retail petroleum industry to some kind of ‘dynasty’ money. The truth however is that Rubis is a 30+ year old French company, founded all the way back in 1990. In 2019, the company entered the Kenyan market by acquiring 100% of KenolKobil for $353 million (about Ksh36 billion then). According to the Competition Authority of Kenya, this was paid in cash, not stock, meaning the Kenyan owners of KenolKobil got no shares in Rubis Energy.

Rubis was however not done shopping. In late 2019, they completed the acquisition of Gulf Energy for €129 million (Sh16.4 billion). In total, the company spent just over Ksh55 billion to enter the Kenyan market, gaining control of 190 KenolKobil petrol stations and 46 Gulf Energy petrol stations, as well as all their fuel depots, LPG storage, filling plants etc. In the process, Rubis became the largest petroleum company in Kenya by market share, leapfrogging both Total and Vivo Energy (Shell). Further, the company committed Sh2.4 billion to rebrand all these stations to ‘Rubis’ by end of 2022. For most Kenyans, this has been the most visible part of the transaction. Since we have established the premise in which Rubis has taken over Kenyan highways in a such a short period of time, who really owns the company. Good thing it is a publicly traded company in France, with a public list of its shareholders. The major shareholders are all French entities. However, the vast majority of shares (85.74%) are free float, traded on France’s stock market – EURONEXT PARIS

Rubis own financial statements state that they own and control 100% of the Kenyan operation. So, unless some Kenyans have bought Rubis shares on the Paris Stock Exchange, we don’t believe that’s the case.

Don't spoil the party man.
Rubis is owned by Kenyatta's, Odingas and Mois. Period
Mama Ngina is the largest shareholder with 37.6368%.

Ferk facts.

 

[Ngimanene na Muchere]

Mtafungua macho muone the extent of this evil family

 

[mzeiya]

Do you mean Kenyans don't understand how franchising works? Apply the same to KFC, Carrefour and many other international businesses operating in the country

 

[Ngimanene na Muchere]

Baaaaas ndio hio dynasty cleaning itself

 

[Othello]

Baaaaas ndio hio dynasty cleaning itself

How will he protect it under Raila and how will Ruto a threat to those businesses?

 

[Ngimanene na Muchere]

How will he protect it under Raila and how will Ruto a threat to those businesses?

Raila is just a puppet, Konyags anasema jump, Raila anauliza how high and how long. Angalia alipewa hand cheque akaanza kuimba kiserikali na kuacha watoto jangwani akarudi kwa firauni misri kula minofu akiwaambia kaeni huko jangwani 2022 nawakujia

 

[Da Vinci]

Mtafungua macho muone the extent of this evil family

@Field Marshal na @Mwalimu-G watanyolewa, kwa uhakika. Now, both don't have hairs on their heads. In fact, @Field Marshal ni kipara kabisa. Both shave their beards daily. But huyu mama kunyoa atawanyoa tu.

 

[Othello]

Raila is just a puppet, Konyags anasema jump, Raila anauliza how high and how long. Angalia alipewa hand cheque akaanza kuimba kiserikali na kuacha watoto jangwani akarudi kwa firauni misri kula minofu akiwaambia kaeni huko jangwani 2022 nawakujia

I really don't know what Uhuru is up to but I know immediately a man gets what he has been desperately seeking, he always end up behaving differently. Mwanaume will beg a woman for coitus for years but immediately akipewa anaruka foot 1000.
People voted in Kibaki thinking he'll jail Kanu thieves but here we are. Pale DRC Tshekedi was Kabila's project and he has already jailed Kabila's friends

 

[Ngimanene na Muchere]

@Field Marshal na @Mwalimu-G watanyolewa, kwa uhakika. Now, both don't have hairs on their heads. In fact, @Field Marshal ni kipara kabisa. Both shave their beards daily. But huyu mama kunyoa atawanyoa tu.

Na tunasema hakiri ni..... Asiye na nywele hana........?

 

[Mwalimu-G]

@Field Marshal na @Mwalimu-G watanyolewa, kwa uhakika. Now, both don't have hairs on their heads. In fact, @Field Marshal ni kipara kabisa. Both shave their beards daily. But huyu mama kunyoa atawanyoa tu.

You are hallucinating. Seek help.

 

[It's Me Scumbag]

I really don't know what Uhuru is up to but I know immediately a man gets what he has been desperately seeking, he always end up behaving differently. Mwanaume will beg a woman for coitus for years but immediately akipewa anaruka foot 1000.
People voted in Kibaki thinking he'll jail Kanu thieves but here we are. Pale DRC Tshekedi was Kabila's project and he has already jailed Kabila's friends

And those thinking Ruto.will do anything better think twice. I guess all must have heard Ruto promise to protect Uhuru and Rails once he gets elected...

Kiraitu Murungi: How Mwai Kibaki stopped us from arresting Moi

Meru governor reveals the intrigues in the Narc government shortly after Mwai Kibaki succeeded Daniel Arap Moi.

nation.africa

The day Mwai Kibaki saved Moi from eviction

The day Mwai Kibaki saved Moi from eviction

www-standardmedia-co-ke.cdn.ampproject.org

 

[Field Marshal]

You are hallucinating. Seek help.

Mental health is a real issue...