Kirubi sells off his stake in UAP

What you need to know:

  • It said that the businessman had also agreed to sell the 9.5 per cent shareholding he holds directly.

Businessman Chris Kirubi has sold his entire stake in UAP Holdings to global insurer Old Mutual.

A statement from Centum Investments, in which Mr Kirubi holds a 25 per cent stake, said that the was disposing its 13.7 per cent shareholding in UAP a member of the Old Mutual Group.

It said that the businessman had also agreed to sell the 9.5 per cent shareholding he holds directly.

“When the sale is completed, Old Mutual Holdings will be the holder of 23.33 per cent of the issued shares of UAP Holdings Limited,” the statement sent Thursday reads.

Centum has been an investor in UAP Group for over 10 years.

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