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Tribunal takes up disputed buyout of BOC by Carbacid
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CMA hearing of Carbacid’s BOC buyout yet to kick off
Friday April 09 2021
BOC, which has operated in Kenya since 1940, produces and supplies industrial, medical and special gases. FILE PHOTO | NMG
By VICTOR JUMA
Summary
The Capital Markets Tribunal is yet to start hearings of a case in which Carbacid Investments’ proposal to acquire BOC Kenya for Sh63.5 per share has been opposed by a minority shareholder.
Former BOC chairman Ngugi Kiuna filed an application at the tribunal on March 2, objecting to the deal which he says undervalues the company in which he holds a 7.6 per cent stake.
The Capital Markets Tribunal is yet to start hearings of a case in which Carbacid Investments’ proposal to acquire BOC Kenya for Sh63.5 per share has been opposed by a minority shareholder.
Tycoon in tribunal to block Carbacid takeover of BOC
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Labour dispute delays BOC Kenya buyout plan
Monday February 08 2021
BOC, which has operated in Kenya since 1940, produces and supplies industrial, medical and special gases. FILE PHOTO | NMG
By VICTOR JUMA
Summary
Mr Brian Busiyile Simiyu filed a case before Nairobi’s Employment and Labour Relations Court which ordered that the takeover of BOC by Carbacid be suspended pending a hearing on February 9, 2021.
The court case has interrupted BOC’s takeover timetable, with the publication of documents relating to the buyout being delayed once again.
The takeover offer documents were due to be circulated on February 5, 2021.
An employee of BOC Kenya #ticker:BOC has obtained court orders stopping the sale of the company to Carbacid Investments #ti until his claim of Sh15 million is addressed.
BOC gets more time to assess Sh1.24bn takeover bid
Friday January 22 2021
A BOC worker prepares cylinders for refill at the company’s Industrial Area plant. FILE PHOTO | NMG
By PATRICK ALUSHULA
The BOC Kenya #ticker:BOC board has been given additional time to value the firm and give shareholders an opinion on the Sh1.24 billion takeover offer that was made by its rival, Carbacid Investment #ticker:CARB, and its majority shareholder Baloobhai Patel in late November.
The Nairobi Securities Exchange-listed gas producer said Friday morning that it has received approval from the Capital Markets Authority to extend the deadline of serving its shareholders with the takeover documents and an independent advisor opinion from January 25 to February 5.
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