Ukarimu Limited entered into an agreement to acquire Fairview Hotel Ltd. from City Lodge Hotels Limited (JSE:CLH) and Property Lodging Investments (pty) Ltd for approximately ZAR 140 million on July 19, 2021. In related transaction, Faraja Limited entered into an agreement to acquire CLHG Tanzania Limited from City Lodge Hotels Limited and City Lodge Hotels (Africa) Proprietary Limited for ZAR 1 million on July 23, 2021. The transaction is subject to antitrust approval, receipt of approvals or consents from the bankers of Fairview and the release of any corporate guarantees given by Fairview. The transaction will close within fourteen weeks from the signing of the agreement. As of September 11, 2021, the transaction will close within 22 weeks from the date of signature. All the proceeds received will be applied towards the settlement of City Lodge's interest-bearing borrowings and contribute to the working capital requirements. The proceeds will be subject to customary working capital adjustments. ENSafrica Kenya acted as a legal advisor to City Lodge Hotels Limited.

Ukarimu Limited completed the acquisition of Fairview Hotel Ltd. from City Lodge Hotels Limited (JSE:CLH) and Property Lodging Investments Proprietary Limited on June 30, 2022.