Agency moves to block sale of Uchumi Langand#039ata Hyper land

The sale of Uchumi’s Lang’ata Hyper has been thrown into doubt after the Kenya Airports Authority (KAA)laimed ownership of the land.

KAA on Thursday issued a notice saying that the land (LR.NO.20912593) is part of Wilson Airport and anyone who deals in it is doing so at their own peril.

Uchumi was last month granted an approval by the Capital Markets Authority (CMA) to sell the property as the retailer steps up efforts to raise funds to pay suppliers and finance operations.

“Kenya Airports Authority reserves the right to take any appropriate action to preserve its said property including initiating civil and criminal proceedings against persons engaged in illegal or unauthorised dealings with its said property,” Yatich Kangugo, the acting managing director said in a notice.

SOURCE: BUSINESS DAILY