An investment vehicle associated with Bidco Africa Chairman Vimal Shah and former Central Bank of Kenya Governor Nahashon Nyagah is set to lose its stake in Tatu City, bringing to a near end a dramatic decades-long battle for control of the multibillion-shilling real estate project.
This follows the loss by Stephen Mbugua Mwagiru, one of their associates, in his bid to stop the disposal of shares held in two Mauritian-registered special purpose vehicles that ultimately linked them to Tatu City.
Mr Mwagiru had moved to the Privy Council—the equivalent of Kenya’s Supreme Court in Mauritius—seeking to stop the sale of shares he held in the Mauritian investment holding companies Cedar IV and Cedar V through Manhattan Coffee Investment Holdings.
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