One week after Mobius Motors, a Kenya-based automaker backed by Playfair Capital, announced it was shutting down, the company has accepted an acquisition offer from an undisclosed buyer.
On August 14, Mobius accepted a bid for the acquisition of 100% of its shares by an undisclosed buyer. Both parties are looking to close the transaction within 30 days, said Nicolas Guibert, a Mobius director, in a notice.
Following the offer, Mobius has postponed a meeting with its creditors, which is scheduled for Thursday, to allow acquisition negotiations to proceed.
The interested buyer may be looking to use the companys assembly plant in Nairobi to produce their models or continue with the Mobius cars, which target SMEs in infrastructure, agribusiness, and supplies operating in remote areas.
On August 9, Business Daily reported that two dealers were considering acquiring the cash-strapped car maker with the prospect of rescuing the brand.
