(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.
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