Billionaire Muthoka reaps Sh2.5bn profit from sale of airport firm

Businessman Peter Muthoka speaks during at a past gala dinner at Safari Park hotel on August 18, 2016.

Photo credit: File | Nation Media Group

Billionaire businessman Peter Muthoka sold his airport services firm Transglobal Cargo Centre (TCC) for close to twice the assets it was holding, indicating the lucrative nature of the deal that saw him earn $40.1 million (Sh5.2 billion) from Turkish firm Celebi Ground Handling.

His profit amounted to Sh2.5 billion in the transaction.

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