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KenolKobil 2018 and beyond
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VituVingiSana
#301 Posted : Tuesday, November 06, 2018 10:46:54 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
whiteowl wrote:
VituVingiSana wrote:
Rubis is huge compared to KK.

https://rubis.fr/media/2...entation_s1-2018-uk.pdf

The FY 2017-18 Net Profit was Euro 129mn which is about 45% of what KK is valued at 23/-.
The shareholder equity is E2.2bn = KES 250b (KK is valued at 35bn)

A serious bunch given they already have bought 25% of KK.

ERC, CMA and all those other characters should allow this deal to close soon so they can Show me the Money! Applause Applause Applause

In 2-9 months, I shall say a fond farewell to this thread. The haters can look for me on Unga, KenRe and I&M [Core Holdings] Laughing out loudly Laughing out loudly Laughing out loudly
And Centum too! Drool Drool Drool


I got on this bus when it was around 8/= and I'm not in a hurry to sell even if the buyout doesnt go through.
#TukoPamoja
I have been in KK at various prices but I am "in the money" by a decent margin at 23/-.
I want it to close ASAP given we might not be eligible for the FY18 dividend.

I re-looked at Unga, KenRe and I&M... and these firms are also solid despite the challenges each of them faces. At my age, I rather sleep at night when the kelele ya chura doesn't bother me! Applause Applause Applause
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Tuesday, November 06, 2018 10:49 PM | Reason: Not specified
sparkly
#302 Posted : Wednesday, November 07, 2018 6:57:47 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
KK is buying 33 stations from Delta Uganda & Rwanda.
Life is short. Live passionately.
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Ericsson
#303 Posted : Wednesday, November 07, 2018 7:00:33 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
sparkly wrote:
KK is buying 33 stations from Delta Uganda & Rwanda.


https://businesstoday.co...stations-uganda-rwanda/

KenolKobil has announced acquisition of up to 33 service stations operated by Delta Petroleum in Uganda and Rwanda.
The service stations will be acquired its wholly owned subsidiaries Kobil Uganda Ltd and Kobil Petroleum Rwanda Ltd by way of an asset sale, the oil company said in a public notice.

“Delta Uganda is a leading oil marketing company in Uganda and it has agreed to sell 23 retail outlets spread across Uganda. Delta Rwanda is also in the oil marketing business and has a network comprising of 10 outlets spread across Rwanda, which are the subject of the sale,” the public announcement added.

KenolKobil said the acquisition of the 33 stations in Uganda and Rwanda is expected to contribute to its top and bottom lines, noting they are in line with the Board’s great strategy through organic and inorganic retail network expansion.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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mlennyma
#304 Posted : Wednesday, November 07, 2018 10:23:36 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Ericsson wrote:
sparkly wrote:
KK is buying 33 stations from Delta Uganda & Rwanda.


https://businesstoday.co...stations-uganda-rwanda/

KenolKobil has announced acquisition of up to 33 service stations operated by Delta Petroleum in Uganda and Rwanda.
The service stations will be acquired its wholly owned subsidiaries Kobil Uganda Ltd and Kobil Petroleum Rwanda Ltd by way of an asset sale, the oil company said in a public notice.

“Delta Uganda is a leading oil marketing company in Uganda and it has agreed to sell 23 retail outlets spread across Uganda. Delta Rwanda is also in the oil marketing business and has a network comprising of 10 outlets spread across Rwanda, which are the subject of the sale,” the public announcement added.

KenolKobil said the acquisition of the 33 stations in Uganda and Rwanda is expected to contribute to its top and bottom lines, noting they are in line with the Board’s great strategy through organic and inorganic retail network expansion.

is it kenol or rubis,does this not add the valuation of the company above 23
"Don't let the fear of losing be greater than the excitement of winning."
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VituVingiSana
#305 Posted : Thursday, November 08, 2018 2:28:45 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
mlennyma wrote:
Ericsson wrote:
sparkly wrote:
KK is buying 33 stations from Delta Uganda & Rwanda.


https://businesstoday.co...stations-uganda-rwanda/

KenolKobil has announced acquisition of up to 33 service stations operated by Delta Petroleum in Uganda and Rwanda.
The service stations will be acquired its wholly owned subsidiaries Kobil Uganda Ltd and Kobil Petroleum Rwanda Ltd by way of an asset sale, the oil company said in a public notice.

“Delta Uganda is a leading oil marketing company in Uganda and it has agreed to sell 23 retail outlets spread across Uganda. Delta Rwanda is also in the oil marketing business and has a network comprising of 10 outlets spread across Rwanda, which are the subject of the sale,” the public announcement added.

KenolKobil said the acquisition of the 33 stations in Uganda and Rwanda is expected to contribute to its top and bottom lines, noting they are in line with the Board’s great strategy through organic and inorganic retail network expansion.

is it kenol or rubis,does this not add the valuation of the company above 23
KK is the buyer. This deal doesn't significantly affect the valuation in the short-term. Let's assume KK is paying 1bn for these stations then KK has to borrow 1bn or use its cash in the bank. The "net cash effect" is zero.

Unfortunately, any delay in Rubis buying us out is an opportunity cost to us given the low(er) prices of shares of SafCom and Centum.

A competing offer would be nice but it is unlikely that Rubis will raise the offer given it has already bought 25% from Wells and secured 10% from Ohana and Tamsin.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Thursday, November 08, 2018 2:37 AM | Reason: Not specified
Pesa Nane
#306 Posted : Thursday, November 08, 2018 10:20:18 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
sparkly wrote:
KK is buying 33 stations from Delta Uganda & Rwanda.


Pesa Nane plans to be shilingi when he grows up.
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VituVingiSana
#307 Posted : Thursday, November 08, 2018 11:18:05 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
There's a wrinkle in the deal...
Questions on the ESOP. It may delay the closing. Sad Sad Sad d'oh! d'oh! d'oh!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#308 Posted : Thursday, November 08, 2018 12:31:48 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Kenol Kobil need to work on the outlook of their fuel stations.
Its not appealing.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#309 Posted : Thursday, November 08, 2018 2:07:03 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
VituVingiSana wrote:
whiteowl wrote:
VituVingiSana wrote:
Rubis is huge compared to KK.

https://rubis.fr/media/2...entation_s1-2018-uk.pdf

The FY 2017-18 Net Profit was Euro 129mn which is about 45% of what KK is valued at 23/-.
The shareholder equity is E2.2bn = KES 250b (KK is valued at 35bn)

A serious bunch given they already have bought 25% of KK.

ERC, CMA and all those other characters should allow this deal to close soon so they can Show me the Money! Applause Applause Applause

In 2-9 months, I shall say a fond farewell to this thread. The haters can look for me on Unga, KenRe and I&M [Core Holdings] Laughing out loudly Laughing out loudly Laughing out loudly
And Centum too! Drool Drool Drool


I got on this bus when it was around 8/= and I'm not in a hurry to sell even if the buyout doesnt go through.
#TukoPamoja
I have been in KK at various prices but I am "in the money" by a decent margin at 23/-.
I want it to close ASAP given we might not be eligible for the FY18 dividend.

I re-looked at Unga, KenRe and I&M... and these firms are also solid despite the challenges each of them faces. At my age, I rather sleep at night when the kelele ya chura doesn't bother me! Applause Applause Applause


Kelele ya chura iko hapa-kenya power,KQ,Mumias and ARM.usiku hakuna kulalaLaughing out loudly Laughing out loudly
Towards the goal of financial freedom
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VituVingiSana
#310 Posted : Thursday, November 08, 2018 6:30:18 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Apparently, Ohana can only exercise 37.25mn of the ESOP shares.

Rubis will have to find a way to pay him off for the balance. I guess it could be a payment after the closing that's the equivalent of the 50.25mn shares less his costs.

The CMA should also offer a voluntary, simplified approach... Sellers like me should be able to sell, if we want, to Rubis at the offer price through the market AFTER the takeover announcement.

A cautionary statement should be provided that the sellers may miss out on another (better) offer or information that might influence us to hold on BUT ultimately it should be our decision.

I have 2 of my "core portfolio" in play i.e. KK [which I want to sell at 23] and Unga [which I do not want to sell at 40].

Different shareholders have different needs/desires and those who want out should be allowed to sell through the market to the highest bidder. Currently, Rubis is not allowed to buy.

I am relatively confident the deal will close BUT the delay isn't good for me given the other "bargains" [Safcom, Equity and Centum] may not remain so for long.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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