IN BRIEF:KenolKobil shares rise on oil Burundi purchase

NAIROBI - KenolKobil Ltd., a fuel retailer with operations in six African countries, rose for a third day in Nairobi trade after the company said it agreed to buy Oil Burundi SA for an undisclosed sum.

NAIROBI - KenolKobil Ltd., a fuel retailer with operations in six African countries, rose for a third day in Nairobi trade after the company said it agreed to buy Oil Burundi SA for an undisclosed sum.

The shares rose 1 shilling, or 1.9 percent, to 53 shillings on the Nairobi Stock Exchange.

Burundi Oil supplies to commercial customers and will provide KenolKobil with a platform to grow its Kobil lubricants brand in the central African country and the southeastern parts of the Democratic Republic of Congo, through the towns of Kigoma and Uvira, Chairman Jacob Segman said in an e-mailed statement Prior to the acquisition, KenolKobil exported petroleum and lubricants to Burundi.

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