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Shoprite Is To Be Taken Over By Nigerian Company – Saka - Investment - Nairaland

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Shoprite Is To Be Taken Over By Nigerian Company – Saka by murecool(m): 11:24am On Aug 03, 2020
Contrary to news trending on the social media, an employee of Shoprite has debunked the claims that shoprite is leaving Nigeria. Mr. Adeyinka saka while responding to a tweet, said the megastore is to be sold to an indigenous retail company.
“Don’t get it twisted Sir, I am currently working as a store manager in one of the stores at Ikeja City Mall.
“It is being taken over by an indigenous retail coy. Nobody is losing his/her job however, there will be a change in management,” Saka said.


On Monday, the Shoprite Holdings Limited, said in a statement that it will auction off its outlets in Nigeria.

The statement partly read:

“Following approaches from various potential investors, and in line with our re-evaluation of the Group’s operating model in Nigeria, the Board has decided to initiate a formal process to consider the potential sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited.

“As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation when Shoprite reports its results for the year. Any further updates will be provided to the market at the appropriate time.”
https://www.kakaakinews.com/2020/08/03/shoprite-is-to-be-taken-over-by-nigerian-company-saka/

Re: Shoprite Is To Be Taken Over By Nigerian Company – Saka by greatmarshall(m): 11:28am On Aug 03, 2020
Okay
Re: Shoprite Is To Be Taken Over By Nigerian Company – Saka by thesicilian: 11:33am On Aug 03, 2020
Mergers and acquisitions occur in business all the time. Sometimes it's done silently, other times it's broadcasted. The employees and customers should be ready to adapt to the new management.
Re: Shoprite Is To Be Taken Over By Nigerian Company – Saka by fatboyebele(m): 12:20pm On Aug 03, 2020
Correct reporting

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