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Owners of Tuskys stop fight over Sh2 billion credit meeting
Yusuf Mugweru (left), one of the Tuskys Supermaket directors, and his lawyer Philip Murgor consult at Murgor & Murgor Advocates on September 23, 2020. PHOTO | DIANA NGILA | NAIROBI
Tuskys shareholders will on Monday morning hold a crunch meeting to discuss and approve a Sh2.1 billion loan from an offshore fund amid a rare truce among the rowing siblings who own the retail chain.
The main agenda of the extraordinary meeting is to approve the $20 million (Sh2.1 billion) credit and the use of the Tuskys shares as security for the debt, putting the ownership of existing shareholders at risk in the event of default.
