Bloomberg News

Kenyan Court Halts KenolKobil Takeover, Standard Says

June 28, 2012

(Corrects newspaper in first paragraph.)

Kenya’s Industrial Court blocked KenolKobil Ltd. from implementing a takeover by Puma Energy BV after a group of employees argued the transaction may change their employment status, the Standard reported.

A hearing on the application will take place on July 11, the Nairobi-based newspaper said, citing court documents.

KenolKobil said yesterday Puma is continuing due diligence on the proposed takeover and it’s “cautiously optimistic” a deal will take place.

To contact the reporter on this story: Paul Richardson in Nairobi at pmrichardson@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net


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