The new shares represent a significant increase in his portfolio.
Baloobhai Patel
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Patel also owns stakes in Carbacid, Absa Bank Kenya, Co-operative Bank and Safaricom.
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Court vacancies hamper Kenyan tycoon Baloobhai Patel’s $10.6-million acquisition deal via Carbacid Investments
Patel owns a 49.9-percent stake in Carbacid.
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Due to legal and regulatory roadblocks, the finalization of the deal has now dragged on for more than one year.
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Carbacid Investments is an investment holding with interests in carbon dioxide gas production processing and marketing.
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Absa Bank Kenya is a leading bank in Kenya and an operating subsidiary of Absa Group Limited.
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