The Aga Khan is set to sell his majority stake in Nation Media Group (NMG) after the Capital Markets Authority (CMA) cleared NPRT Holdings Africa Limited to proceed with the transaction.
In a notice dated Thursday, September 18, 2025, NPRT disclosed that on September 10, the CMA had exempted it from Regulation 4 of the Capital Markets (Takeovers and Mergers) Regulations, 2002.
The exemption allows NPRT to acquire 54.08 percent of NMG’s issued shares from the Aga Khan Fund for Economic Development S.A. (AKFED) without being required to make a mandatory takeover offer to the remaining shareholders.
“NPRT Holdings Africa Limited wishes to notify the general public that on 10 September 2025, the Capital Markets Authority granted NPRT an exemption from compliance with Regulation 4 in connection with NPRT’s proposed acquisition of 54.08% of the total issued shares of Nation Media Group Plc from Aga Khan Fund for Economic Development S.A. (the Reorganisation),” read the notice.
CMA Clears Nation Media Group Takeover by NPRT
The company stressed that it does not intend to acquire any additional shares as part of the reorganisation. The deal will only be finalized once all pending regulatory approvals are secured.
RSM is advising NPRT as the financial consultant, while Bowmans is acting as the legal advisor.
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The CMA clarified that its approval does not imply an endorsement of the accuracy of the statements contained in the announcement, in accordance with its disclosure regulations.
“This announcement is for information purposes only. It has been issued with the approval of the Capital Markets Authority pursuant to the Capital Markets (Public Offers, Listing and Disclosures) Regulations, 2023. As a matter of policy, the CMA does not assume responsibility for the correctness of the statements appearing in this announcement,” the statement read.
About NPRT Holdings Africa Limited
NPRT Holdings Africa Limited is a holding company incorporated in Kenya under the Companies Act.
It functions primarily as a vehicle for managing investments and does not engage in independent business operations.
The company is wholly owned by the Aga Khan Fund for Economic Development (AKFED), a private international development agency that promotes entrepreneurship and job creation in developing countries across Africa, Asia, and the Middle East.
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AKFED, founded by the Aga Khan, has investments in diverse sectors including media, telecommunications, hospitality, and infrastructure.
NPRT was specifically established to facilitate the restructuring of AKFED’s media investments in East Africa.
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