Maximus International’s arm buys additional 49% stake in Quantum Lubricants

MX Africa has entered into a Share Purchase Agreement on September 14, 2022 with SKG Energy for the same Maximus International’s wholly owned subsidiary -- MX Africa (MXAL) (Nairobi - Kenya) has entered into a Share Purchase Agreement on September 14, 2022 with SKG Energy and purchased additional 49 number of equity shares in Quantum Lubricants (E.A.) (QLL) (Nairobi - Kenya) (Constituting 49% of equity share Capital of QLL) thereby making QLL as wholly owned subsidiary of MXAL.  The acquisition is subject to customary closing conditions, which are expected to be completed within 2 months from September 14, 2022. QLL has a manufacturing set up in Kenya. This acquisition will place MXAL in the capacity of sole ownership for effective decision making for market expansion, product mix, client acquisition, supply chain management, etc.Maximus International is primarily engaged in the business of importing and exporting lubricant oils, different types of base oils and other chemical products used mainly in the Automobile Industry, Power Industry and Metal manufacturing among others.