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Nakumatt: Another ailing Kenyan company
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Ericsson
#401 Posted : Monday, September 18, 2017 10:10:13 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Tuskys grew through assistance and guidance from Nakumatt.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Chaka
#402 Posted : Monday, September 18, 2017 10:38:36 AM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
TuskyMatt..?
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obiero
#403 Posted : Monday, September 18, 2017 11:19:28 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,219
Location: nairobi
Ericsson wrote:
obiero wrote:
Juojo wrote:
Walked into Nakumatt Mega and could literally smell the stench of death.The shelves were empty. The look on the faces of the few employees hanging around discussing in small groups was heartbreaking

I visited it too, just yesterday and it was a shell.. Luckily, Tuskys have today put forward a request for takeover.. Hope that the same is accepted


Obiero link

The exchange bar always one step ahead https://www.standardmedi...-merger-deal-with-tuskys

KQ ABP 4.26
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Ericsson
#404 Posted : Monday, September 18, 2017 11:23:40 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
The merger if it works out will put a permanent nail on the coffin for Uchumi
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Juojo
#405 Posted : Monday, September 18, 2017 12:42:03 PM
Rank: Member

Joined: 7/7/2009
Posts: 41
KulaRaha wrote:
TBH, this all sounds like another Nakumatt con job....


True.
It's good for management since I don't think Tuskys will comb the books to see the manure they have been upto, which a foreign strategic investor would have done.

This is just a postponed collapse
Happiness is not the absence of problems, It's the ability to deal with them
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Ericsson
#406 Posted : Monday, September 18, 2017 12:48:14 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
What is the share of shareholding of the merged entity
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Pesa Nane
#407 Posted : Monday, September 18, 2017 1:17:12 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c

"...temporary...stock taking.."
Pesa Nane plans to be shilingi when he grows up.
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KulaRaha
#408 Posted : Monday, September 18, 2017 1:34:23 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
So, what's in it for Tuskys in this deal?
Business opportunities are like buses,there's always another one coming
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Mike Ock
#409 Posted : Monday, September 18, 2017 4:17:14 PM
Rank: Member

Joined: 1/22/2015
Posts: 682
This for me wins the 'Worst Deal of the Year' award. The pertinent issue with Nakumatt is the 30b debt. Nobody has the money to pay it off and still make financial sense of the company afterwards, and suppliers will not supply until the debts are paid. For Tuskys to embroil themselves in this miasma of failure is such a bad sign to the soberness of their management. Anyway, Nakumatt is still going down, they are just postponing the funeral. I'd rather they die quickly so that someone competent takes their spot and I go back to normal shopping.
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obiero
#410 Posted : Monday, September 18, 2017 4:32:12 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,219
Location: nairobi
KulaRaha wrote:
So, what's in it for Tuskys in this deal?

Tuskys will be selling its stock via Nakumatt outlets.. This is brilliant from Tuskys.. If it stinks they bail. The debt owed by Nakumatt remains on the applicant

KQ ABP 4.26
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