The update 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.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BREAKING: Shoprite to pull out of Nigeria | Premium Times NigeriaWhile the company's total sales of merchandise may be on the rise, it is struggling outside South Africa.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
ShopRite to exit Nigerian market after 15 years | The Guardian Nigeria News - Nigeria and World NewsSouth Africa’s grocery retailer ShopRite is leaving Africa’s biggest market, Nigeria, 15 years after it opened shop in the West African country. The announcement by ShopRite came months after another South African brand, Mr Price, exited the market. International supermarkets (excluding Nigeria) contributed 11.6% to group sales and reported 1.4% decline in sales from 2018. …
Source: GuardianNigeria - 🏆 1. / 94 Read more »
‘Nigerian Troops kill 80 bandits, rescue 17 kidnapped victims’Troops conducting operation Sahel Sanity in the Northwest of the Nigeria have killed 80 bandits, recovered 7 rifles and 943 cows, the acting Director, Defence Media Operations, Brigadier General Be…
Source: Daily Trust - 🏆 13. / 51 Read more »
BREAKING: Aubameyang, Giroud to start in FA Cup final - Latest Nigeria News, Nigerian Newspapers, PoliticsGabonese striker, Pierre, Emerick Aubameyang and France forward, Olivier Giroud will start as Arsenal battle Chelsea at the 2020 English FA Cup final
Source: TheNationNews - 🏆 6. / 69 Read more »
BREAKING: Sanwo-Olu announces dates for reopening of Churches, Mosques in Lagos - Daily Post NigeriaThe Governor of Lagos State, Babajide Sanwo-Olu, has announced that worship centres in the state will reopen on Friday, August 7. Sanwo-Olu confirmed this
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Aubameyang breaks three records as Arsenal defeat Chelsea to win FA Cup - Daily Post NigeriaPierre-Emerick Aubameyang netted twice on Saturday, to help Arsenal win the FA Cup. The Gunners beat London rivals Chelsea 2-1 at Wembley, to clinch the
Source: DailyPostNGR - 🏆 11. / 59 Read more »