The Capital Markets Authority (CMA) has frozen the transfer of Unilever’s majority stake in Limuru Tea and blocked a US-based private equity firm from buying minority investors in the listed company, disrupting the Sh596.7 billion ($5.1 billion) global deal.
The regulator has declined to approve an offer from private equity firm CVC Capital Partners seeking full buyout of Limuru Tea minority owners, including tycoon Joe Wanjui, in the wake of shareholder fights at the firm.
