Tycoon-linked firm ordered to finalise Sh205m land sale
Monday February 22 2021
Summary
Justice Grace Kemei ordered Rural Development Services Limited to complete the agreement for sale of the land, located within Makuyu measuring 126 acres, to African Cotton Industries Limited.
In the agreement dated July 2, 2013, Dr Kimani’s company was selling the land at a cost of Sh205,360,000 but the process stopped after he tried to back out of the sale agreement.
Dr Kimani has 30.7 percent stake in Nairobi bourse listed Kakuzi worth Sh2.16 billion.
High Court has ordered a company associated with billionaire investor John Kibunga Kimani to complete sale of its land in Murang’a to a cotton manufacturing company.