The dispute between minority shareholders of listed Limuru Tea over the sale of a majority stake by Unilever to US private equity fund CVC Capital Partners has once again brought a spotlight on the market valuation of plantation firms versus that of the land they hold.
The six listed agriculture firms, as well as others in the manufacturing and construction sectors, hold thousands of hectares of prime land, whose worth is sometimes downplayed in financial reports by being valued at cost rather than the current market price.
