News

New Nigerian investor takes over South Africa’s Shoprite

Shoprite Holdings has sold its Nigerian business to local buyer Ketron Investment, it said on Wednesday, nearly 16 years after the South Africa (SA) retailer opened its first outlet in the country. In a report made public from Johannesburg, South Africa yesterday, Shoprite disclosed that it has entered into a share purchase agreement with Ketron, a Nigerian company owned by a group of institutional investors led by property group Persianas, for the disposal of its entire interest in Retail Supermarkets Nigeria Limited, Shoprite and Ketron said in separate statements.

The price on the sale was not disclosed in the statement but it is believed to worth millions of dollars in value. South Africa’s biggest grocer has been reviewing its long-term options across Africa to focus more on its home market and has already exited Kenya. The terms of the transaction include a franchise agreement, which secures the Nigerian retailer’s right to continue to use the SHOPRITE brand, Shoprite said.

It also includes an administration and services agreement which provides the business with administration and technical support from the Shoprite Group for an initial period of five years. Shoprite added that 70 per cent of the transaction proceeds have been received with the balance due in four equal installments over 30 months. Persianas had emerged as the buyer of Shoprite’s Nigerian operations after a bidding process in April

 

TRY IT TONIGHT!!! ---

 

Abuja Civil Servant reveals (FREE) secret Fruits that Increased his Manh0d size, gives Stronger Erections and ends Premature Erection in 7days...

   

CLICK HERE FOR FULL DETAILS.

 

%d bloggers like this:
Fake Richard Mille Replica Watches, www.richardmille.to The ceramic upper and lower cases are imported from Taiwan and are processed by ATPT ceramics to form Y-TZP ceramics. After high-tech anti-fingerprint technology, they present a delicate and soft sub-black material. This color quality has remained unchanged for a hundred years. The color and luster are more detailed to achieve the ceramic tone visual pattern electroplating upper and lower shells that are infinitely close to the original products, with anti-reflective coating sapphire glass! The tape uses a soft and delicate Malaysian imported top rubber strap, and the movement is equipped with an imported Seiko NH movement. The buckle of this version is made according to the original size and thinness, making it feel more comfortable and intimate, the highest version on the market Richard Mille Replica