Nairobi, Jan. 21 -- Billionaire businessman Peter Muthoka has sold his airport services firm Transglobal Cargo Centre to Istanbul-based Celebi Aviation for Sh5.17 billion ($40.1 million), marking one of the largest transactions in Kenya's logistics market.

Celebi bought 100 percent of Transglobal, a company offering ground handling services at the Jomo Kenyatta International Airport (JKIA) in Nairobi, where it trades as Africa Flight Services (AFS).

Mr Muthoka said he sold Transglobal to invest in other areas.

"I have done my best in this business, and I want to invest in other things. We have the best service and equipment," Mr Muthoka told this publication, adding that part of the Sh5.17 billion payout has been used to repay debt tha...