In 1995 New Baron & Leveque International (NBLI) a Belgian Company was contracted for three projects based in Eldoret; Ngano Farm factory project, Ngano farm water project and Ngano farm Electricity project (all for the government of Kenya).
When NBLI established a branch in Kenya it was for the purpose of undertaking the above projects. However, as a result the reputation and contacts made at the time, NBLI was able to tender for other projects and win. For the next ten years NBLI was engaged in many other projects – largely turnkey projects.
Pursuant to a sale and transfer of business agreement dated 9th November 2005 the Forrest Group acquired assets of NBLI. In particular, the Forrest Group (or any company that it was to appoint) acquired NBLI’s Kenya Branch together with its building contracts, employee contracts, specified tangible assets and intangible assets.
In this regard, the Forrest Group chose to use EGMF to undertake its Kenyan Interest from the year 2007.