KenolKobil Limited management has put on hold plans to sell KenolKobil until it closes off costly legal disputes, sells non-core assets and returns to profitability. In a bid to avoid a reoccurrence of March's scenario, a director of the oil marketing firm said KenolKobil will look to sell a significant stake in 2 to 3 years time when it becomes more profitable and would invite several bidders rather than a single business. “KenolKobil is still up for sale.

Focus is on preparing it for a buyout in the next two to three years,” the director said.