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IFC report reveals Vimal and Shah family stakes in Bidco

Bidco chief executive officer Vimal Shah during the interview in his Thika Plant office. FILE PHOTO | DIANA NGILA |

Billionaire businessman Vimal Shah has equal shareholding as his father Bhimji Shah and brother Tarun Shah in cooking oils multinational Bidco, documents filed with the World Bank’s private lending arm IFC have shown.

The revelation confirms his insistence Forbes magazine erred in listing him as a dollar billionaire in 2013.

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