Biwott’s family to pocket billions in KenolKobil buyout

Rubis Energie Chief Executive Christian Cochet (left) and Head of Investor Relations at Rubis SCA Bruno Krief at the announcement of the takeover deal in Nairobi yesterday. [Courtesy]

The family of former Cabinet minister Nicholas Biwott is set for a major windfall in a planned Sh35.6 billion buyout deal of KenolKobil by a French firm.

But the Capital Markets Authority late yesterday put a damper on the planned deal after in froze accounts suspected of insider trading, pending investigations.