New status in Rift Valley Railroad saga: Transcentury connections win the day.

Jaindi Kisero in The East African

“High-profile Kenyan investment house, Transcentury Ltd has earned a guaranteed position of chair of the board of the newly restructured Rift Valley Railways Investments, under a new deal struck with wealthy Egyptian private equity firm, the Citadel Group.

Rift Valley Railways runs the 1,200-kilometre metre gauge between Mombasa and Kampala under a 25 – year concession. The arrangement is spelt out in a new shareholders agreement with Citadel, which has been seen by The EastAfrican.

Hammered after months of lengthy negotiations, the agreement is largely viewed by insiders as representing a tactical retreat by the wealthy Egyptian equity fund to accommodate the interests of the politically- influential local shareholders of TransCentury.”