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Billionaire businessman Joel Kibe has initiated legal action against Old Mutual Holdings, seeking a buyout valued at potentially over Sh1 billion. Kibe, a minority shareholder, accuses the company of infringing on minority investors' rights to favor its majority shareholder. The High Court has intervened, temporarily barring Old Mutual's management from selling the company's assets. Additionally, Kibe has requested an investigation into the company's accounts.
Billionaire businessman Joel Kibe has sued Old Mutual Holdings, seeking to be bought out at a price likely to top Sh1 billion by the insurer he accuses of trampling on the rights of minority investors to benefit its majority shareholder. https://t.co/3niDq60Cmm
Shareholder row at Old Mutual as billionaire seeks Sh1bn buyout https://t.co/t3LlYEbqnt https://t.co/OSJQWlIaHG
Old Mutual court battle Minority shareholder wants Old Mutual barred from selling assets Shareholder Joel Kibe wants company's accounts investigated Matter to be mentioned on September 30th CitizenFridayNight @lillian_muli https://t.co/o1OKFtrjQ5
