A Nigerian property company,
Persianas has been revealed as the buyer of Shoprite’s local business in
Nigeria.
Reuters reported this on Wednesday, citing multiple sources,
including banks.
Banking sources told Reuters that Persianas Properties
emerged as the buyer after a bidding process and the company is arranging debt
for the buyout.
The Palms shopping mall, Persianas’ flagship mall, houses a
Shoprite store in Lagos.
Shoprite has more than 25 retail stores across Nigeria,
including some of the largest in West Africa.
Persianas and Shoprite declined to comment on the deal.
Persianas, which is chaired by businessman Tayo Amusan, with
his wife, Ayo as CEO, came into being in 1990, according to information on its
website.
It says since then it has grown to become a substantial
group with the proven capabilities to initiate, construct and manage high
quality retail, residential and commercial environments in Nigeria.
It opened The Palms in 2004, which served as the cradle for
Shoprite retail business in Nigeria.
It subsequently developed and opened four additional malls
along similar lines in Enugu, Kwara, Ota and Ibadan.
The company’s sixth mall will soon be opened in Abuja.
Shoprite has said it is in the process of concluding a
franchise agreement for the brand to remain in Nigeria as well as a services
agreement to provide support to the new shareholders with operating the
outlets.
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