Shoprite Initiates Process To Exit Nigeria
A shop assistant arranges products at the South African firm Shoprite’s main store in Nigeria’s commercial capital Lagos on April 29, 2010. REUTERS/Akintunde AkinleyeIn a trading update published on Monday, the South African-based company said the decision was made after “approaches from various potential investors, and in line with our re-evaluation of the Group’s operating model in Nigeria.”
The company said when it reports its results for the year, its business in Nigeria “may be classified as a discontinued operation.”
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