Two Rivers Mall development project

Overview:

• TRLC (Two Rivers Lifestyle Centre) has developed the Two Rivers Mall development project in Nairobi, Kenya opened on February 14 2017. 
• The mall is part of the Two Rivers development which spans 100 acres.  
• OMP (Old Mutual Property) wished to acquire a 50% stake in TRLC for $63 million. In order to do this, OMP acquired a 10% stake in TRLC for $6.99 million and granted a convertible loan for $56.007 million, which is worth 40% of TRLC's shares. \
• This financing structure allowed the transaction to go through without CAK merger approval.   

Rani Mehta - Journalist