Business and Brands
BREAKING: Shoprite: New Company Takes Over Operations In Nigeria
BREAKING: Shoprite: New Company Takes Over Operations In Nigeria
New Company is ready to take Over Shoprite operations in Nigeria.
CityNews Nigeria reports that Nigerian property group, Persianas, will take over Shoprite’s operations in Nigeria after a bidding process was concluded. The company is reportedly arranging debt to finalise the deal.
This was disclosed in an exclusive report by Reuters on Wednesday. According to the report, the deal was confirmed by banking sources.
Persianas Properties emerged as the buyer after a bidding process, and the company is arranging debt for the buyout.
MBO Capital and KPMG advised Persianas, while FBNQuest is arranging debt.
Bloomberg also reported that Shoprite’s owners valued its sale at N30 billion; however, the deal between Persianas and Shoprite remains undisclosed.
Persianas Group owns the Palms Shopping Mall in Lagos, which also contains a Shoprite outlet.
Details later…
- Entertainment5 hours ago
Newly wedded wife bathes her husband with hot water for stopping her from calling men
- Top Stories24 hours ago
Breaking: FCT Court Discharges, Acquits Adoke In OPL 245 Trial
- Politics6 hours ago
Secondus ‘attacks’ Wike, backs Fubara on control of PDP structure in Rivers
- News6 hours ago
Traditional Ruler Declared Wanted By Army Over Delta Killings Surrenders To Police
- News24 hours ago
Breaking: Binance Executive Sues NSA, EFCC
- Politics19 hours ago
Tinubu @72: Photos As Lagos Lawmakers Honour Nigeria’s President
- Top Stories6 hours ago
CBN Pegs Minimum Capital Base For Banks At ₦500 Billion
- Entertainment5 hours ago
‘Mohbad’s Father Told Primeboy To Run Away To Escape Arrest’ – Late Singer’s Mother Opens Up