A KenolKobil fuel station in Nairobi. French multinational Rubis Energie bought out the company. FILE PHOTO | NMG
By Victor Juma
Business Editor
Nation Media Group
Legal control over a company’s capital and decisions can be achieved through several means.
1. Being the sole shareholder.
An example is KenolKobil in which French multinational Rubis Energie is buying out all the shareholders of the oil marketer.
2. Holding or acquiring 50 per cent plus one share.
An example is Kakuzi in which UK multinational Camellia Plc has a 50.7 per cent ownership.
3. Being the top shareholder.
Most listed banks are controlled by investors holding 25 per cent or less, with the rest of the shareholding highly fragmented.
4. Shareholders ceding their legal control to one of their peers despite that party not having majority of the shares.
An example is Riara Group of Schools Limited in which Actus Equity has bought a 22.32 per cent stake together with powers to control the company.
5. Having super-voting shares.
A company can have different classes of shares, with some having more voting power and whose holders can control a company.
An example is Facebook’s Mark Zuckerberg who controls the technology firm through his holding of special shares with 10 times normal voting rights.
