Shoprite sells Nigerian division to local property company
Persianas to buy Shoprite’s Nigerian business after the retailer decides to retreat from Africa’s most populous country
15 April 2021 - 18:39
Shoprite plans to sell its Nigerian division to a local property group, as Africa’s largest food retailer pulls back from the continent’s most populous country.
The deal for Persianas to buy the unit is subject to regulatory approval, Cape Town-based Shoprite said in a statement on Thursday, confirming earlier reports. While the asset has been valued by the seller at 30-billion naira ($73m), it is not yet clear how much Persianas has agreed to pay, according to a person familiar with the matter. ..
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