s workers to stop the planned takeover of the fuel marketing company by Switzerland-based Puma Energy.

According to a statement issued on Wednesday, the company said it is “cautiously optimistic” that very soon, a deal will be agreed with Puma Energy.

In the statement, the company disclosed that ongoing due diligence for the agreement will be completed in July, barring any unforeseen delays. It also added that KenolKobil and Puma Energy had jointly approached appropriate regulators for necessary approvals.

However, employees of the company had dragged KenolKobil to Kenya’s Industrial Court in a bid to block the deal. According to the lawsuit, the employees are asking the court to cancel the deal because they believe the new owners would restructure the firm, an incidence that could lead to mass loss of jobs.

Hearing of the suit will begin on June 29 when counsels to both parties would present their arguments.

REUTERS