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KenolKobil buyout frozen again over Sh240 million debt

A worker adjusts fuel prices at a KenolKobil petrol station in Eldoret Town in the past. FILE PHOTO | NMG

The planned Sh35 billion takeover of listed oil marketer KenolKobil #ticker:KENO hangs in the balance after a creditor obtained a court order to stop the process unless a Sh240 million debt is settled.

The orders were granted by High Court Judge Margaret Muigai, in an urgent application filed by Delina Enterprises Kenya, arguing that the firm [Rubis Energie] may leave the country without paying the debt.

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