Sasini Limited is set to seek approval from its shareholders to sell off its 60 per cent shareholding in Savanna Coffee House tomorrow.
The shareholders will consider the resolution to dispose the subsidiary to Sheb Investments Limited at a cost of Sh70 million.
Savanna Coffee House runs four restaurants on Nairobi’s Loita Street, Ralph Bunche Road, Muthangari Road and Mombasa Road.
The restaurants offer a diverse menu including tea, coffee, snacks, desserts, lamb chops and burgers.
The firm in 2015 sold its building on Nairobi’s Loita Street, Sasini House, for more than Sh600 million.
Besides the disposal, shareholders will also consider passing a resolution to change the name of the company from Sasini Limited to Sasini PLC.
Other approvals expected include incorporating Sasini Avocado Limited, Sasini Seed Limited, Sasini EPZ Park, Sasini Nuts EPZ, as wholly subsidiaries of the company.
Source: Capitalfm.co.ke
