FCCPC approves purchase of Shoprite
After the approval from the Federal Competition and Consumer Protection Commission (FCCPC), Ketron Investment Limited has announced the purchase of Shoprite Nigeria’s assets.
The investment company is a Nigerian company owned by a group of institutional investors led by Persianas Investment Limited.
Chairman, Ketron Investment Limited, Tayo Amusan disclosed this in a statement on Tuesday.
He said “We are thrilled to complete the acquisition of Shoprite, ensuring the continued operations of one of the biggest retail success stories in Nigeria. We look forward to building an even stronger company following our acquisition and are excited about the greater impact we will achieve to the benefit of our customers and other stakeholders now and well into the future,” the Chairman said.
He revealed that advisers on the acquisition includes KPMG, MBO Capital Management Limited and Banwo & Ighodalo.
Amusan, added that Ketron’s vision is to “create fundamental change for the better within Nigeria,” adding that the company will bring to bear, its knowledge of the ever-evolving Nigerian retail marketplace.