KENYA · BUSINESS
Key Facts
—The new front: minority investors have asked Mauritius’ Supreme Court for leave to pursue London arbitration on behalf of Manhattan Coffee, the liquidated vehicle holding their Tatu City stake; the plea is heard next month.
—The claim: share issues in Cedar IV and Cedarsoc between 2014 and 2016, made under expired loan-conversion terms and at an undervalue, unlawfully diluted their holding, per the filing.
—The players: Kenyan businessman Steve Mwagiru and Belgian investor Etienne Delbar act through BlackKnight Holdings; the family of Bidco’s Vimal Shah holds the other half of Manhattan Coffee.
