Nakumatt Kenya to Sell Tanzania Unit Stake to Ascent

November 4, 2016

Kenyan supermarket chain seeking Tanzania’s Fair Competition Commission’s go-ahead to dispose 51% stake for undisclosed amount to Ascent Investment Ltd., Dar es Salaam-based newspaper reports, citing FCC.

* Nairobi-based retailer has three outlets in Tanzania; acquired Shoprite of South Africa’s stores for 76m Tanzanian shillings 2 years ago;
* NOTE: Oct. 28, Kenya’s Biggest Retailer Plans Stake Sale After Debt Surge. Source: Bloomberg