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Puffet outwits TCL......What next?
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Njung'e
#1 Posted : Thursday, January 07, 2010 10:51:25 AM
Rank: Elder

Joined: 2/7/2007
Posts: 11,935
Location: Nairobi
Sheltam's principal shareholder Roy Puffet has sold 49% of his company to Egyptian fund Ambience Venture limited.TCL's bid to control RVR therefore falls flat on the face.AVL is publicly listed and is part of Citadel Capital of Egypt whose total worth is said to be over Kshs 600 Billion.....What next for TCL and more so,Centum?
Nothing great was ever achieved without enthusiasm.
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VituVingiSana
#2 Posted : Thursday, January 07, 2010 10:54:27 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,375
Location: Nairobi
Puffet might screw the Egyptians as well. They should have bought 51% of Sheltam at minimum!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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kizee
#3 Posted : Thursday, January 07, 2010 11:45:12 AM
Rank: Member

Joined: 1/9/2008
Posts: 537
what is the combined stake of tcl and centum in rvr?
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cnn
#4 Posted : Thursday, January 07, 2010 12:49:33 PM
Rank: Veteran

Joined: 6/17/2009
Posts: 1,627
@kizee, 25%,that is why TCL were looking to up their stake.Maybe they should move fast and court mirambo for its 15%,that will get them close to a controling stake.
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VituVingiSana
#5 Posted : Thursday, January 07, 2010 3:07:13 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,375
Location: Nairobi
True control is always 50% + 1 share but I think Sheltam has the 'role' of Lead Investor thus calls the shots... even if TC+Centum+Mirambo have 35%
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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muganda
#6 Posted : Monday, February 08, 2010 10:41:04 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Oooh truth is more interesting than fiction. Reading the latest intrigues with a lot of interest: -Investors put in Kes 63b -Uganda support the Egyptians -TCL's case thrown out of court -TCL forced to cough up their money for rights issue -Uganda shareholder allowed to come in; what with all the oil ferrying business they could give the railway line So what's your view on the nationalistic sentiment? Does TCL represent Kenya better or should capitalism rule? http://www.nation.co.ke/...38/-/vq17dw/-/index.html
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mwanahisa
#7 Posted : Monday, February 08, 2010 11:48:06 AM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
After reading the story my immediate conclusion was that the story is incorrect w.r.t the amount injected - I acn not see how that consortium could have raised 63 BILLION. The figure is more likely to be Kshs 0.63 billion. However, a positive first step. I guess that this means Centum has also paid up its share and could in the future reverse its impairment of RVR that it made in 2009????
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Kamaa
#8 Posted : Monday, February 08, 2010 12:12:42 PM
Rank: Veteran

Joined: 10/6/2007
Posts: 1,177
Location: Nairobi - Kenya
i wish Trans-century succeeded in the take over... Egypt controls Nile (read L.Victoria) and now RVR?
When you hear what I say, you will not understand. When you see what I do, you will not comprehend
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KulaRaha
#9 Posted : Monday, February 08, 2010 12:14:14 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
I dont think its very difficult to outwit TCL...esp when dealing at a global level...they used to win deals due to other assistance.
Business opportunities are like buses,there's always another one coming
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the sage
#10 Posted : Monday, February 08, 2010 1:34:18 PM
Rank: Member

Joined: 11/20/2008
Posts: 367
@Mugunda, in this case capitalism should triumph jingoism. I read that it is cheaper to transport a tonne of rice from Boston to Mombasa than from Mombasa to Kisumu. If the rail can help reduce transportation costs, I honestly don't care who runs the show. In fact, what would it mean for the average guy if the rail was fixed and it started giving PSVs competition? @Kamaa, TCL is a private company, unless you are a shareholder, I don't how you would benefit whether TCL or the Egyptians too over.
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