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EABL got Approval on acqusition of Serengeti by TZ

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BGL		#11 Posted : Wednesday, October 06, 2010 4:05:44 PM
Rank: Veteran Joined: 10/11/2009 Posts: 1,223		EABL has called for an EGM on Oct 21,2010 @ 1400hrs. The agenda is to seek shareholder approval for acquisition of 51% of issued share capital of Serengeti Breweries Ltd. CMA has given the green light for the acquisition. History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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muganda		#12 Posted : Monday, October 11, 2010 11:34:22 AM
Rank: Elder Joined: 9/15/2006 Posts: 3,907		Ahhem! With Tanzania Fair Competition Commission requiring EABL to sell 10% of TBL at 550/= a share, for nationalistic purposes; translated to about Kes 30.00 per share.... I see that EABL is interested in getting at least x3 the amount or Kes 97/=. Interesting to see TBL has Kes 16.2 EPS and growing sales revenue/net income by about 15% annually. http://af.reuters.com/article/i...ws/idAFJOE69906820101010 EABL on the other hand, tough... Oh Wazua gurus, any anticipated change in direction of EABL shares in the near term?
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VituVingiSana		#13 Posted : Monday, October 11, 2010 11:37:29 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		The Tanzanians are screwing EABL... 25% of 'real' value... How can EABL sell the stake for a pittance??? Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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BGL		#14 Posted : Monday, October 11, 2010 3:23:18 PM
Rank: Veteran Joined: 10/11/2009 Posts: 1,223		If you want to be poor and transmit the poverty to several generations you need to adopt a Tanzanian mindset of kaka/dada. History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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VituVingiSana		#15 Posted : Monday, October 11, 2010 3:28:49 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		http://www.theeastafrica.../-/qwwh49z/-/index.html A senior government official told this newspaper that EABL wants to offload the shares at TBL’s current trading price, arguing that the shares are undervalued by between 20 and 30 per cent. TBL is trading at Tsh1,780 ($1.19). FCC wanted the brewer to offload its 10 per cent stake in TBL through an IPO which was Tsh550 ($0.36) a share to give more chance for the Tanzanians to own the company. So according to EABL, TBL's market price is undervalued [Foreigners including Kenyans can't buy TBL shares] but is willing to take market price YET the FCC wants them to sell at 1/3 the price??? Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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