Business / Companies
Choppies acquires 49% of unnamed Zimbabwean supermarket chain
03 Oct 2013 at 10:28hrs | Views
Botswana Stock Exchange listed retail group Choppies Enterprises announced this morning the acquisition of 49% of an unnamed Zimbabwean supermarket chain comprising 10 stores.
The cost of acquisition is less than 5% of the company's market capitalisation of BWP3604.8 million ($424.2 million). This would be equivalent to at most BWP180.2 million ($21.2 million).
The settlement of the consideration would be done over a period of time as the takeover of the stores progresses.
The cost of acquisition is less than 5% of the company's market capitalisation of BWP3604.8 million ($424.2 million). This would be equivalent to at most BWP180.2 million ($21.2 million).
The settlement of the consideration would be done over a period of time as the takeover of the stores progresses.
Source - African Alliance
