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Rea Vipingo takeover at 40/= per share
Rank: Veteran Joined: 6/17/2009 Posts: 1,627
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Kausha wrote:Interesting play by Centum. The value of that land is crazy. Reminds me of the theft Unilever carried out by delisting when markets were rock bottom in 2009 yet the carrying value of the land was so low.
Great to see Centum reading in between the mischief REA holdings were about to carry out. I am all for these deals being scattered,even Centum's offer is peanuts.The minority shareholders should open their eyes and see what they are being offered is no where near fair value.
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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Why is these thefts by foreigners rubber-stamped by CMA and in the long haul GoK year in year out and it is the Wanjikus who suffer. Surely why cant it be a rule that before you de-list proper vaulation is carried out. CROOKS/THIEVES!!!!! Thieves
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Rank: New-farer Joined: 11/19/2013 Posts: 33
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Rank: Member Joined: 9/26/2006 Posts: 463 Location: CENTRAL PROVINCE
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sparkly wrote:stocksmaster wrote:muganda wrote:Now now does Centum have the wherewithal to run ReaVipingo if founders leave?
Or maybe an effort to raise the takeover consideration they obtain?
Or an undercover agreement with the brothers?
Perhaps another Centum share price summersault!
Its the land.........I don't think Centum are interested in farming sisal. The over 10000 acres at Rea Vipingo even at a conservative Ksh 1M per acre values the share at about Ksh 200. Factor in Kibwezi and TZ acreage plus the retained earnings minus debts and you realise even Ksh 400 (10 times the initial offer price) would be a steal. The valuation of this company as far as a takeover is concerned should not be based on the 6 months share price average plus some token but on the value of the balance sheet and in particular the land at play. Am happy Centum is putting in a fight for the locals whose assets are almost going for a song. Happy hunting. I am going to add more of Centum, cross my fingers and hope they succeed in their bid. Vipingo Ridge bought some sisal estate at KShs 30k per acre 7 years ago but are selling at KShs 14m per acre after building the golf course. Centum would just need to spin off 1000 acres out of the more than 10,500 Rea Vipingo land neighbouring the Vipingo Ridge, do a similar project and raise enough to pay off any loan they might take to purchase the company. Happy hunting. x handle: @stocksmaster79
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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King G wrote:Why is these thefts by foreigners rubber-stamped by CMA and in the long haul GoK year in year out and it is the Wanjikus who suffer. Surely why cant it be a rule that before you de-list proper vaulation is carried out. CROOKS/THIEVES!!!!! LOL, are you serious? If you think it is not enough, then do not tender your shares. Or even better, do what Centum did. Get your chama together & bid for the shares at 70/- but getting your MP or some bureaucrat involved is a recipe for disaster. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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VituVingiSana wrote:King G wrote:Why is these thefts by foreigners rubber-stamped by CMA and in the long haul GoK year in year out and it is the Wanjikus who suffer. Surely why cant it be a rule that before you de-list proper vaulation is carried out. CROOKS/THIEVES!!!!! LOL, are you serious? If you think it is not enough, then do not tender your shares. Or even better, do what Centum did. Get your chama together & bid for the shares at 70/- but getting your MP or some bureaucrat involved is a recipe for disaster. What I find unfit is de-listing. The opposite of courage is not cowardice, it's conformity.
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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jerry wrote:VituVingiSana wrote:King G wrote:Why is these thefts by foreigners rubber-stamped by CMA and in the long haul GoK year in year out and it is the Wanjikus who suffer. Surely why cant it be a rule that before you de-list proper vaulation is carried out. CROOKS/THIEVES!!!!! LOL, are you serious? If you think it is not enough, then do not tender your shares. Or even better, do what Centum did. Get your chama together & bid for the shares at 70/- but getting your MP or some bureaucrat involved is a recipe for disaster. What I find unfit is de-listing. For many firms, a NSE listing is a pain. Have you been to an AGM? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/15/2006 Posts: 3,907
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The Robinow brothers give a British shrug to the antics of the youngsters at Centum. http://www.businessdailyafrica....6/-/jfulx3z/-/index.htmlEisshh, no counter offer, no bother! -they've proceeded seeking regulatory approvals for the offer at 40/= -believe REA will grow better when private, better for East Africa - they will not divest from large-scal sisal growingSo I must ask again, if Centum succeed in scuttling the offer, won't they just have doubled the value of the Brothers shares at their expense, for land they can't touch?
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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muganda wrote:The Robinow brothers give a British shrug to the antics of the youngsters at Centum. http://www.businessdailyafrica....6/-/jfulx3z/-/index.htmlEisshh, no counter offer, no bother! -they've proceeded seeking regulatory approvals for the offer at 40/= -believe REA will grow better when private, better for East Africa - they will not divest from large-scal sisal growingSo I must ask again, if Centum succeed in scuttling the offer, won't they just have doubled the value of the Brothers shares at their expense, for land they can't touch? No. The value of the land does NOT change whether the offer is at 40 or 50 or 60. What changes is the value of the shares. The Robinows would NOT have sold the shares at 27 or at 40. I doubt they will sell at 50. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 3/26/2012 Posts: 985 Location: Dar es salaam,Tanzania
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VituVingiSana wrote:muganda wrote:The Robinow brothers give a British shrug to the antics of the youngsters at Centum. http://www.businessdailyafrica....6/-/jfulx3z/-/index.htmlEisshh, no counter offer, no bother! -they've proceeded seeking regulatory approvals for the offer at 40/= -believe REA will grow better when private, better for East Africa - they will not divest from large-scal sisal growingSo I must ask again, if Centum succeed in scuttling the offer, won't they just have doubled the value of the Brothers shares at their expense, for land they can't touch? No. The value of the land does NOT change whether the offer is at 40 or 50 or 60. What changes is the value of the shares. The Robinows would NOT have sold the shares at 27 or at 40. I doubt they will sell at 50. CHECK ALY KHAN SATCHU ARTICLE. http://the-star.co.ke/ne...wars-robinows-vs-centum
At 40/= or even 50/= the share is egregiously UNDERVALUED.
“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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Rea Vipingo takeover at 40/= per share
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