The buyer of Shoprite’s local business in Nigeria has been revealed. It is Persianas, a Nigerian property company.
According to PM News, Reuters reported this on Wednesday, citing multiple sources, including banks.
The retail chain, with over 2,300 stores across Africa, is awaiting regulatory assent on the sale of its Nigerian retail store operation, though no further details have been disclosed.
According to PM NEWS, sources from the banks told Reuters that Persianas Properties emerged as the prefer buyer after a bidding process and the company is arranging debt for the buyout.
Persianas’ flagship mall, The Palms shopping mall, houses a Shoprite store in Lagos.
Shoprite has more than 25 retail outlets across Nigeria, some of which are the largest retail stores in West Africa.
Persianas and Shoprite declined to comment on the ownership transfer buyout deal.
Information on the Shoprite new owner website revealed Persianas, which is chaired by businessman Tayo Amusan, with his wife, Ayo as CEO, came into being in 1990.
It says the company has grown to become a substantial group with the proven capabilities to initiate, construct and manage high-quality retail, residential and commercial facilities in Nigeria.
