Corporate News
Pattni sparks a storm with the sale of Marshalls shares
Businessman Kamlesh Pattni, has sold his shares in car firm just months after gaining control. Last year, Mr Pattni sold a 15 per cent stake in Marshalls East Africa that earned him more than Sh30 million. Photo/File
By George Ngigi
Posted Thursday, July 26 2012 at 20:47
Posted Thursday, July 26 2012 at 20:47
The ownership war spilled over to the firm’s AGM, causing the warring shareholders to hold parallel meetings. The rivalry came to an end two years ago when the courts ruled in favour of Mr Pattni.
Investors have taken notice and the company’s share has become the least sought-after at the Nairobi bourse and goes for weeks without trading.
Marshalls’ share price stood at Sh12.3 yesterday and has shed 7.8 per cent in the past 12 months.
gngigi@ke.nationmedia.com
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