Delina has been directed to provide the court with detailed evidence of the debt and demonstrate how the proposed takeover transaction will affect KenolKobil’s ability to settle the amount. By ABIUD OCHIENGMore by this AuthorThe planned takeover of KenolKobil Ltd hangs in the balance after a creditor obtained a court order to stop the process until a debt amounting to over Sh240 million is settled. FULL PARTICULARS“A temporary injunction is hereby issued to KenolKobil and its agents stopping the completion of the takeover transaction by shareholders voting on the offer,” Justice Muigai ruled. Delina has been directed to provide the court with detailed evidence of the debt and demonstrate how the proposed takeover transaction will affect KenolKobil’s ability to settle the amount. INSIDER TRADINGFurther, the firm believes KenolKobil holds no other property except what it currently seeks to transfer to Rubis Energie.

Source: Daily Nation February 13, 2019 04:52 UTC