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Macmillan UK sells its stake in Kenya

NAIROBI, Kenya, Dec 23- The international publishing business, Macmillan UK has completed the sale of its interest in Macmillan Kenya.

The balance of the equity is being bought out by the business\’ existing Managing Director, David Muita.

The new outfit will now trade as Moran Publishers.

David Muita said: "After well over 40 years of distinguished educational publishing for Kenyan schools, Macmillan Kenya is now well-placed to move forward under the direction of its local management.

He pointed out that they would draw on Macmillan\’s international policy of developing local capacity, through training and hands on experience, which has produced some of the most skilled publishing executives the world over.

"Our clients can be assured of continuity of service and a continuation of the high pedagogical standards associated with the Macmillan brand," the MD who has been Managing Director of Macmillan Kenya since January 1990, and who has worked with the company for a total of 27 years added.

On its part Macmillan International noted that the Kenyan market would provide many opportunities for the new company and its owners to grow.

 "We are pleased to complete this sale to local management, as a means of taking forward our strategy of empowering strong and locally-directed educational publishing businesses in Africa," said Macmillan Chief Executive Annette Thomas.

Macmillan has become a household name on the publishing scene in Kenya, with a reputation of excellent and innovative publishing.

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The company is the market-leader for atlases, revision and workbooks, wall maps and charts, dictionaries, readers and top quality curriculum support materials for all levels.

The publishing house was founded in 1843 by Daniel and Alexander Macmillan and entered a period of international expansion in the 1960s.

Currently, the group has over 7,000 staff with offices in more than 80 countries.

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