ANOTHER WAR AFTER SALE
🖋️You remember the Gulf and Rubis energies fight in court sometime back?? Well, we have a fresh fight between Catalyst Principal Partners and former owner of Britannia Biscuits (formerly Jambo Biscuits). Catalyst accuses Britannia of inflating the...
🖋️You remember the Gulf and Rubis energies fight in court sometime back?? Well, we have a fresh fight between Catalyst Principal Partners and former owner of Britannia Biscuits (formerly Jambo Biscuits). Catalyst accuses Britannia of inflating the...
confectionery's buyout price by almost 10 times. Similar to Gulf/Rubis deal in which Rubis accused Gulf of inflating the value to the tune of billions.
🖋️Catalyst boss said, "This was orchestrated through the falsification of financial statements and other documents, which
🖋️Catalyst boss said, "This was orchestrated through the falsification of financial statements and other documents, which
indicated that the true value of the business was Sh. 1.2 billions as opposed to Sh. 126 millions, and thus the said respondents acted in breach of the agreement."
🖋️Now that is a big gap right there. How did they miss such a big gap? We're they too hungry for the deal?
🖋️Now that is a big gap right there. How did they miss such a big gap? We're they too hungry for the deal?
🖋️Well, in my experience in the Kenyan market (can also be a representative of other African countries), sellers are out here to make big money off of their decades of sweat and toil into their businesses. Buyers on the other hand are looking to find value for their money and
good ROI.
🖋️This means that for any deal to work out for both parties, there should be a middle ground that doesn't disadvantage either side. Good due diligence should be carried out to verify the financial data provided by the seller. If the seller doesn't allow you to do
🖋️This means that for any deal to work out for both parties, there should be a middle ground that doesn't disadvantage either side. Good due diligence should be carried out to verify the financial data provided by the seller. If the seller doesn't allow you to do
proper diligence, walk away because you will not like what you find if you have to push for it. They are most likely hiding bad things.
🖋️Above all, deals should be carried out and closed in good faith. Buyer should seek to pay for what the business is really worth.
🖋️Above all, deals should be carried out and closed in good faith. Buyer should seek to pay for what the business is really worth.
Seller should seek to get the right value out of their investment.
#Kenya #businessesforsale #investments
lnkd.in/dV4KbiFq
#Kenya #businessesforsale #investments
lnkd.in/dV4KbiFq
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