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Wanjui in Sh3.4bn UAP share sale deal

Mr Joe Wanjui (left) and Mr James Muguiyi. FILE PHOTO | NMG

UAP Holdings directors Joe Wanjui and James Muguiyi have an option to sell a combined six per cent stake in the insurer to Old Mutual Plc before September in a deal that could earn them Sh3.4 billion.

The London-based conglomerate disclosed the existence of the put option in a trading update, alerting its shareholders that its stake in the local insurer could rise to 67 per cent from the current 61 per cent.

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