The Capital Markets Authority (CMA) has opened investigations against listed Limuru Tea that is under Unilever control for undervaluing its 696.8 acre plantation and suspected cooking books as the multinational prepares to exit the company.
The probe follows a petition from a minority shareholder in Limuru Tea accusing the firm of valuing its land holding at Sh1 million against an estimated value of Sh23 million per acre or Sh16.2 billion.
