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Sameer buys UK building
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VituVingiSana
#1 Posted : Tuesday, April 19, 2011 6:14:13 PM
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Joined: 1/3/2007
Posts: 18,220
Location: Nairobi
http://www.thebusinessde....html?news_section=4150

Of course, the Sameer Tyre shareholders probably paid for it!

Note, I doubt Sameer Tyres bought it but the cash probably came from them!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Gordon Gekko
#2 Posted : Tuesday, April 19, 2011 7:05:07 PM
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Joined: 5/27/2008
Posts: 3,760
There is no space for the call Centre market in the UK, certainly not with the wage rates there. So what they need a call centre for is a mystery, unless they want to use the building for a different purpose.
It sounds to me like a way to move cash out of the country - nothing is beyond our friend.
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erifloss
#3 Posted : Tuesday, April 19, 2011 8:25:00 PM
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Location: Nairobi
Kuosha pesa kupitia 'sameer' (merali) with the help of perception ya the Real listed Sameer (Wanjiku's).
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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Cde Monomotapa
#4 Posted : Tuesday, April 19, 2011 9:21:20 PM
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And what's the purpose of this building?
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Horton
#5 Posted : Wednesday, April 20, 2011 12:13:21 AM
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only 12 years remaining o its lease...hmmmm
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Horton
#6 Posted : Wednesday, April 20, 2011 12:25:10 AM
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although the rental yield is 7.75% not bad....*12 inarudisha pesa in 10years

thats assuming the yearly increase(if that) covers for inflation
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VituVingiSana
#7 Posted : Wednesday, April 20, 2011 2:03:24 AM
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Joined: 1/3/2007
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Good deal for Sameer (merali) but I think Sameer Africa (listed) shareholders paid the price!

7.75% is not bad (especially if they got a loan at sub-5% since the lessee might be Barclays)...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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