Nairobi, April 26 -- Conflicts in two laws have stalled the sale of the government's 43.77 percent stake in a wines and spirits firm that distributes Amarula and Viceroy, delaying a bidding for shares valued at about Sh3.3 billion.

The freshly amended Privatisation Act, which guides sale of shares, is in conflict with the Public Finance Management (PFM) Act, 2012 on the transaction in companies where the government does not have majority ownership.

Privatisation Act, which was amended last year, exempts firms where the government is a minority owner from following strict steps, including seeking parliamentary and Cabinet approval ahead of stake sales.

But the PFM Act demands the approval of both the Treasury and the Cabinet.

The ...