Eveready shares soar after talks on deal with Energizer
Eveready East Africa’s shares trading on the Nairobi Securities Exchange gained the most at 9.80 per cent yesterday to Sh2.80 a piece. On Monday, the company said it was in discussion for a long-term deal distribution with Energizer. Eveready said the two-year deal in September 2014 expired last month. It said the discussions have been opened with a “view to concluding a definitive agreement soon based on mutually agreeable terms”. EMAL is a subsidiary of the giant Energizer, which controls a 10.5 per cent stake in Eveready. “The agreement which expired by effluxion on September 30, 2016, sets out the terms and conditions of supply and distribution of various imported products in the flashlight and portable power category … to include Eveready and Energizer branded products,” the statement read.
Shareholder Daniel Gathogo during the Eveready Annual General Meeting in Nakuru on October 6/