Canarian Holdings Ltd says such a move would require a written consent.
In a response to a suit by KenolKobil where it is fighting alleged eviction from two parcels where it operates petrol stations in Mombasa and Kilifi counties, CHL says the oil dealer agreed that the landlord would re-enter the premises without notice should possession of the premises change without a written consent.
The landlord argues that KenolKobil was a listed company but upon acceptance of the takeover offer by M/S Rubis Energie SAS, it will become a private company owned by a foreign subsidiary.
A KenolKobil #ticker:KENO landlord is accusing the oil marketer of breaching a land lease agreement on any transfer of its shares that would see the control of the lessee pass to another party.
Canarian Holdings Ltd (CHL) says such a move would require a written consent, but which did not happen when the oil marketer’s shares were transferred to M/s Rubis Energie SAS.
In a response to a suit by KenolKobil where it is fighting alleged eviction from two parcels where it operates petrol stations in Mombasa and Kilifi counties, CHL says the oil dealer agreed that the landlord would re-enter the premises without notice should possession of the premises change without a written consent.
CHL says KenolKobil breached clauses of the three leases by transferring its shares to M/s Rubis Energie SAS, resulting in a change of control without honouring the deal with the land owner.
The oil marketer is seeking a permanent injunction restraining CHL from harassing, intimidating or evicting it and its licensees or agents from the parcels of land in Kilifi and Jomvu in Mombasa.
The landlord argues that KenolKobil was a listed company but upon acceptance of the takeover offer by M/S Rubis Energie SAS, it will become a private company owned by a foreign subsidiary.
“The requirement for seeking written consent before transfer of shares, leading to change of control of KenolKobil would enable the defendant to carry out due diligence on any prospective offerrors to enable the defendant decide whether it would continue with the lessor-lessee relationship,” argues CHL.
Hearing has been fixed for October 15.
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