The fate of the five other RVR shareholders Mirambo Holdings (15 per cent), Prime Fuels (15 per cent) and Australia’s Babcock and Brown (10 per cent) and Centum (10 per cent) in RVR was not immediately clear.

People familiar with the deal however said Citadel bought out the five for a total of 80 per cent shareholding and is set to cede a 14 per cent stake to TransCentury and another 15 per cent to a Ugandan investor by sitting out an upcoming $10 million (about Sh750 million) rights issue slated for later this month.

So, Centum now has excess cash at hand.

Does anyone know which tea companies shares Centum has?

With about 23% of Carbacid shares, shouldn't this be the next horse to bolt?

@Surealligator People don't seem to understand these stock maybe they catch with the bus later.

They have to make the announcement first to see if it was worthwhile. Despite this and Carbacid going well for them, Centum just made a lot of bad calls when buying their Equities. According to last years annual report - they bought KQ @ abt 110, MSC at abt 17. So they are still making losses in some of these shares.

Centum might have sold the 5% (or didnt participate in fundraising)... Anyway... I do not know...

Centum is liquid... though IMHO... kirubi is a crook...

@sparkly - I have not have officially heard/read that Centum is out of RVR.
All we have is a story that says that Citadel will have 51% of RVR & Ugandans 15% (sheltam has 35% so where does the 17% come from?)... and the 15%?

Centum may have impaired RVR investment but that does not mean they have sold it. If there is value, they can write it back...

Huh? Real estate in Sudan? I lost you there

Not confirmed but I hear $4.5mn for 10% in RVR... What did Centum buy the 10% for?

NAIROBI, March 29 (Reuters) - Kenyan investment company Centum (ICDC.NR: Quote, Profile, Research) has offered its 10 percent stake in a concession running the Kenya-Uganda railway for $4.5 million to other shareholders, the company said on Monday.

The 25-year concession started in 2006 but failed to take off due to a dispute between shareholders of Rift Valley Railways (RVR). Reviving the rail network between Kenya and Uganda is seen as critical to boosting intra-regional trade.

"Centum Investment Company, in line with its new investment strategy, has offered its entire 10 percent equity stake in the Rift Valley Railways Investment (RVRI) to the rest of the shareholders through a pre-emptive offer process as outlined in the RVRI shareholders agreement," it said in a statement.

Other partners in the consortium are Mirambo Holdings and Primefuels Ltd, Trans-Century, Babcock & Brown of Australia and Egypt's Citadel Capital CICA.CA, through its subsidiary Ambience Ventures.

Under a deal that was announced after arbitration in London, and which is expected to be finalised by mid-April, Ambience Ventures will take a 51 percent shareholding in RVR, while Trans-Century will own 34 percent. [ID:nLDE62M15S] (Reporting by Helen Nyambura-Mwaura; Editing by Richard Lough and Hans Peters)

Having already written off its loss on RVR, the sale means that any upside will go into the P&L for 2009/10. which closes tomorrow.
Lets meet at Ksh17.00

This stock is dominating proceedings at the bourse today. I am very comfortable with the ride.