Billionaire investor Baloobhai Patel stands to save up to Sh10.8 million in taxes on dividends from the transfer of his 49.9 percent direct stake in Carbacid Investments Plc to his private firm Aksaya Investment Holdings Limited.
The transaction is among several that the businessman says are part of succession planning. In the case of Carbacid, it will also lead to a reduction of taxes.
