Nairobi, Kenya: Negotiations are at an advanced stage for a strategic partner to acquire majority shareholding in troubled motor vehicle dealer Cooper Motors Corporation ( CMC) Group Limited.

“The firm has already placed a takeover bid and reported its intentions to the Capital Markets Authority as officials at CMC perform due diligence before concluding the deal,” CMC Chief Executive Joel Kibe said.

He made the disclosure Wednesday during a stormy 49th Annual General Meeting, where shareholders protested before finally approving the company’s accounts and financial statements.

http://www.standardmedia.co.ke/...bled-cmc-now-up-for-sale

This will be a saving grace for the trapped shareholders. If indeed the deal pulls through they won't experience the uchumi relisting bloodbath. But should such a deal flop...

@josimar, I thought Ak announced before dimensions data said a word.