The majority shareholder in Sameer Africa, Sameer Investments Limited, that owns a 57.2% stake in the company (159.3m shares) has issued Sameer Africa with its intention to acquire an additional 41.5m shares equivalent to a 14.9% stake through a private transaction with Bridgestone Corporation which currently owns the shares. The consideration for the additional shares will be cash, at a share price equivalent to a 90-day volume-weighted average price of Sameer Africa’s shares. Sameer Investments does not intend to make a take-over offer for Sameer Africa as is required by parties acquiring or increasing their controlling interest in a listed company, and has applied to the Capital Markets Authority (CMA) for an exemption from this regulation. Sameer Investments and Bridgestone Corporation have entered into a conditional Share Sale Agreement whereby completion of the acquisition will depend on CMA approval of the transaction, the grant of exemption from making a take-over offer, the proposed acquisition being approved by the board of directors of Sameer Investments and that no material or adverse action is taken to challenge the proposed transaction. Sameer Africa has issued a cautionary statement advising shareholders and the public to exercise caution when dealing with its shares. (Source; Company, Kestrel Research)

Only person to make money in Firestone/Sameer Africa is Merali. Not Bridgestone. Not you. Not me.

Yep, only person to make money is merali. They hived off the (very) valuable land fronting Uhuru Highway and spun it off into a venture they directly own 75% of...

There is more to this deal than meets the eye, sly Merali must be pulling a fast one on Bridgestone http://www.businessdailyafrica....4/-/fg6qffz/-/index.html

Why will that someone else be buying? The same way Celtel way bought into Kencell?

Demand for the share building up at the same price range we have seen in the last 2 weeks. Just wondering what cards are waiting to be unleashed after Bridgestone is out.

I smell a rat.. Time to cut losses and bail out.

In any direction that you may want to look at this, there's something fishy going on. One might as well get locked in like the case with CMC and not get worth returns.

You get to wonder who the prospective partner is and the fact that he issued a condition for the exit of bridgestone before he joins sameer. Further talks will be held privately yet it's a listed company. I don't like this guy one bit.

ooh ok in that case I agree there definitely will be some return. The question is how fast/slow will this take considering they have to wait for a CMA approval..