Connect with us

News

Nigerian Company Takes Over Shoprite Operations

Published

on

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.

Read Also: 2023: APC Dismisses Zoning Presidency To Southern Nigeria

Bloomberg also reported that Shoprite’s owners valued its sale at N30 billion; however, the deal between Persianas and Shoprite remains undisclosed.

BlazeNewz Disclaimer

The information contained in this post is for general information purposes only. Opinion articles, comments are solely the responsibility of the author and does not necessarily reflect the views of BlazeNewz while we endeavour to keep the information accurate with objectivity as we adhere to global practice of journalism. Read our full Disclaimer.

Hammed Tajudeen is the editor in-chief of Blaze News, holds Higher National Diploma(HND) in Mass Communication, graduated from Osun State Polytechnic, Iree.

Olaiya Flyover Inauguration

Advertisement
Advertisement
Advertisement
Advertisement

Trending

0
Would love your thoughts, please comment.x
()
x