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The transaction, which covers 87.3 percent of the outstanding amount, is part of a broader plan to streamline its capital structure and ease debt obligations.
This decline follows a steeper loss earlier this year, when his stake dropped by $817.53 million between Jan. 24 and Feb. 23.
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The decline comes after a strong run between Jan. 24 and Feb. 14, when Adebutu’s stake surged by $5.23 million.
The recovery follows a sharp decline between Jan. 1 and Feb. 7, when the market value of his stake dropped by EGP 2.84 billion ($56.48 million).
The deal, which has been in the works for months, is now awaiting final approval from the Central Bank of Kenya (CBK).
As part of the refinancing process, Seplat has also launched a tender offer allowing investors to sell back their 2026 notes before the March 18, 2025, deadline.
This follows a sharp drop between Jan. 27 and Feb. 19, when her stake fell by $64.05 million, from $242.51 million to $178.46 million.
This follows a strong performance in January, when his shareholding surged by over $11 million between Jan. 17 and 30.
This represents a sharp reversal from the recent highs recorded in February, when the market value of his stake had surged to nearly $1 billion.
The deal, subject to regulatory approval, will expand Eaton’s presence in the data center and industrial markets.
