Biscuit maker Britania has been accused in court of cooking books ahead of selling the confectionery producer to private equity firm Catalyst for Sh1.2 billion, inflating the buyout price nearly ten times.
Catalyst says the alleged deception has cost it nearly Sh1 billion from the deal it closed in 2016, derailing the turnaround of the company which the private equity firm argues was valued at Sh126 million when closing the takeover.
