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Nakumatt: Another ailing Kenyan company
Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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copy and past extract Quote:Regulator rejects Tuskys, Nakumatt merger plan.
The CAK says its understanding of the proposal is that:
“The parties have not entered into a substantive share purchase agreement”
That Tuskys has simply proposed to “principally act as a guarantor for the supply of goods to Nakumatt”.
Therefore, the deal cannot be a merger, says the regulator. Source Link From The Business Daily
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Rank: Elder Joined: 6/23/2009 Posts: 13,530 Location: nairobi
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aemathenge wrote:copy and past extract Quote:Regulator rejects Tuskys, Nakumatt merger plan.
The CAK says its understanding of the proposal is that:
“The parties have not entered into a substantive share purchase agreement”
That Tuskys has simply proposed to “principally act as a guarantor for the supply of goods to Nakumatt”.
Therefore, the deal cannot be a merger, says the regulator. Source Link From The Business Daily Carrefour already have all the prime spots previously held by Nakumatt.. A merger that is DOA
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,701 Location: NAIROBI
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obiero wrote:aemathenge wrote:copy and past extract Quote:Regulator rejects Tuskys, Nakumatt merger plan.
The CAK says its understanding of the proposal is that:
“The parties have not entered into a substantive share purchase agreement”
That Tuskys has simply proposed to “principally act as a guarantor for the supply of goods to Nakumatt”.
Therefore, the deal cannot be a merger, says the regulator. Source Link From The Business Daily Carrefour already have all the prime spots previously held by Nakumatt.. A merger that is DOA The market is still big. Naivas should in the same fashion take over Uchumi Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,530 Location: nairobi
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Ericsson wrote:obiero wrote:aemathenge wrote:copy and past extract Quote:Regulator rejects Tuskys, Nakumatt merger plan.
The CAK says its understanding of the proposal is that:
“The parties have not entered into a substantive share purchase agreement”
That Tuskys has simply proposed to “principally act as a guarantor for the supply of goods to Nakumatt”.
Therefore, the deal cannot be a merger, says the regulator. Source Link From The Business Daily Carrefour already have all the prime spots previously held by Nakumatt.. A merger that is DOA The market is still big. Naivas should in the same fashion take over Uchumi Previous Nakumatt South C now taken over by Naivas.. Nakumatt Lifestyle Monrovia shut down by NSSF.. Nakumatt was in HDU but is now progressed to ICU.. About to kick the bucket
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Nakumatt Garden City closed. Nyali closed. kisii, eld, arusha, moshi closed.
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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obiero wrote:aemathenge wrote:copy and past extract Quote:Regulator rejects Tuskys, Nakumatt merger plan.
The CAK says its understanding of the proposal is that:
“The parties have not entered into a substantive share purchase agreement”
That Tuskys has simply proposed to “principally act as a guarantor for the supply of goods to Nakumatt”.
Therefore, the deal cannot be a merger, says the regulator. Source Link From The Business Daily Carrefour already have all the prime spots previously held by Nakumatt.. A merger that is DOA Indigenous companies should have filled the void. Not muarabus/French co.
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Rank: Elder Joined: 12/4/2009 Posts: 10,701 Location: NAIROBI
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obiero wrote:Ericsson wrote:obiero wrote:aemathenge wrote:copy and past extract Quote:Regulator rejects Tuskys, Nakumatt merger plan.
The CAK says its understanding of the proposal is that:
“The parties have not entered into a substantive share purchase agreement”
That Tuskys has simply proposed to “principally act as a guarantor for the supply of goods to Nakumatt”.
Therefore, the deal cannot be a merger, says the regulator. Source Link From The Business Daily Carrefour already have all the prime spots previously held by Nakumatt.. A merger that is DOA The market is still big. Naivas should in the same fashion take over Uchumi Previous Nakumatt South C now taken over by Naivas.. Nakumatt Lifestyle Monrovia shut down by NSSF.. Nakumatt was in HDU but is now progressed to ICU.. About to kick the bucket Can you be the mortician to do the post mortem analysis and burial Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Nakumatt thrown out of nanyuki mall for non payment of rent. Thrown out literally... http://nairobinews.natio...nanyuki-branch-evicted/
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Rank: Elder Joined: 6/23/2009 Posts: 13,530 Location: nairobi
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Ericsson wrote:obiero wrote:Ericsson wrote:obiero wrote:aemathenge wrote:copy and past extract Quote:Regulator rejects Tuskys, Nakumatt merger plan.
The CAK says its understanding of the proposal is that:
“The parties have not entered into a substantive share purchase agreement”
That Tuskys has simply proposed to “principally act as a guarantor for the supply of goods to Nakumatt”.
Therefore, the deal cannot be a merger, says the regulator. Source Link From The Business Daily Carrefour already have all the prime spots previously held by Nakumatt.. A merger that is DOA The market is still big. Naivas should in the same fashion take over Uchumi Previous Nakumatt South C now taken over by Naivas.. Nakumatt Lifestyle Monrovia shut down by NSSF.. Nakumatt was in HDU but is now progressed to ICU.. About to kick the bucket Can you be the mortician to do the post mortem analysis and burial Nakumatt died months ago.. No need to discuss it
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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Nakumat kitale branch has been closed. Could anyone please share Nakumat latest financial report? thats the sure way we will know the real cause of their problem. Towards the goal of financial freedom
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Rank: Elder Joined: 6/23/2009 Posts: 13,530 Location: nairobi
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Ebenyo wrote:Nakumat kitale branch has been closed.
Could anyone please share Nakumat latest financial report? thats the sure way we will know the real cause of their problem.
It's not listed so doesn't have to disclose it's financials. And I bet you that they are bogus, not worth the papers or ink they took to produce. Let's just accept that Nakumatt died
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Meanwhile Tuskys to open 100 branches in the next 3 yrs. Retail is doing great. https://www.the-star.co....expansion-plans_c1691664
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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[quote=hardwood]Meanwhile Tuskys to open 100 branches in the next 3 yrs. Retail is doing great. https://www.the-star.co....xpansion-plans_c1691664[/quote] Another local retail firm falling into the trap of quick expansion.People never learn. Life is short. Live passionately.
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Rank: Elder Joined: 6/23/2009 Posts: 13,530 Location: nairobi
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Agreed. Tuskys need to calculate their expansion plans very keenly
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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How things change.....no business is too big to fail. https://www.nation.co.ke...73596-3m763y/index.html
Quote:The plaintiff (City Mall, Mombasa/Ideal Location Ltd) further argues that it developed the mall for investment and not for charity purposes and since Nakumatt is no longer in a position to pay rent, it should vacate immediately.
Mr Oluga further told the court that Nakumatt’s continued occupation of the premises does not have any useful purpose since it no longer does any meaningful business and the shelves are virtually empty.
The plaintiff argued that the possibility of Nakumatt paying rent is very remote especially after its much touted merger with Tusker Mattresses Ltd has been faced with serious objection.
Ideal Location Ltd argued that if Nakumatt continues to occupy the premises, the mall is likely to turn into a deserted and ghost structure with no traffic, hence it will affect the overall value of the prime commercial enterprise.
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Why is Chandarana missing in action? I thought they would have taken Nakumatt's niche.
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Rank: Elder Joined: 12/4/2009 Posts: 10,701 Location: NAIROBI
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hardwood wrote:How things change.....no business is too big to fail. https://www.nation.co.ke...73596-3m763y/index.html
Quote:The plaintiff (City Mall, Mombasa/Ideal Location Ltd) further argues that it developed the mall for investment and not for charity purposes and since Nakumatt is no longer in a position to pay rent, it should vacate immediately.
Mr Oluga further told the court that Nakumatt’s continued occupation of the premises does not have any useful purpose since it no longer does any meaningful business and the shelves are virtually empty.
The plaintiff argued that the possibility of Nakumatt paying rent is very remote especially after its much touted merger with Tusker Mattresses Ltd has been faced with serious objection.
Ideal Location Ltd argued that if Nakumatt continues to occupy the premises, the mall is likely to turn into a deserted and ghost structure with no traffic, hence it will affect the overall value of the prime commercial enterprise. Nakumatt is dead,no need to talk about sijui which branch shut/thrown out by the landlords. News such as a new investor to pump cash into the business has been found will be meaningful to the forum Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 2/8/2007 Posts: 808
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Some are too big perhaps probably because of the intrinsic value they pack in the operations. Nakumatt is by far the most agile and bold retailer in the market. It is unlikely the agility and boldness would escape value investors.
Now with the admin in place, watch the reconstruction of the business. Tuskys will probably get involved. I will not be surprised if 12 months from now Nakumatt is firing on majority of the cylinders. Lesson being do not underestimate the life of a Kenyan business....business know their home markets well. Just as you would not wish away America airlines in the US market you can't wish away some of our retailers.
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Rank: Elder Joined: 6/23/2009 Posts: 13,530 Location: nairobi
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Kausha wrote:Some are too big perhaps probably because of the intrinsic value they pack in the operations. Nakumatt is by far the most agile and bold retailer in the market. It is unlikely the agility and boldness would escape value investors.
Now with the admin in place, watch the reconstruction of the business. Tuskys will probably get involved. I will not be surprised if 12 months from now Nakumatt is firing on majority of the cylinders. Lesson being do not underestimate the life of a Kenyan business....business know their home markets well. Just as you would not wish away America airlines in the US market you can't wish away some of our retailers. @Kausha hapa ni mazishi.. Sio HDU, au ICU.. We should talk about other things
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,530 Location: nairobi
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hardwood wrote:Why is Chandarana missing in action? I thought they would have taken Nakumatt's niche. Nakumatt niche was locals and not the Indians or ultra wealthy
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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