Shoprite entered into a share purchase agreement with Ketron, a Nigerian company owned by a group of institutional investors led by property group Persianas, for the disposal of its entire interest in Retail Supermarkets Nigeria Limited, Shoprite and Ketron said in separate statements. The price on the sale was not disclosed.
The terms of the transaction include a franchise agreement, which secures the Nigerian retailer's right to continue to use the SHOPRITE brand, Shoprite said.
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