PERSIANAS WILL BE TAKEN OVER SHOPRITE IN NIGERIA AS OPERATIONS TO COMMENCE SOONER

Persianas is one the Nigerian biggest property group. This company however will be taken over Shoprite’s operations in Nigeria at the conclusion of a bidding process.

Persianas will hence take over Shoprite’s operations in Nigeria after a bidding process was concluded. The company is reportedly arranging debt to finalise the deal.

However, this was disclosed in an exclusive report by Reuters on Wednesday. According to the report, the deal was confirmed by banking sources

Bloomberg also reported that Shoprite’s owners valued its sale at N30 billion; however, the deal between Persianas and Shoprite remains undisclosed.