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Ketron investment completes acquisition of Shoprite Nigeria thecable.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecable.ng Daily Mail and Mail on Sunday newspapers.
Shoprite ownership changes hand | Tribune Online tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
Shoprite sells Nigerian business to local firm Ketron 02 June 2021 - 17:44 By Nqobile Dludla Since its launch in Lagos in December 2005, Shoprite has expanded to more than 25 retail stores across Nigeria, including some of the largest in West Africa. Image: REUTERS/Afolabi Sotunde/File Photo
Shoprite Holdings has sold its Nigerian business to local buyer Ketron Investment, nearly 16 years after the retailer opened its first outlet in the country.
Shoprite 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, the companies said.