Nakumatt sells 25 pct stake to a fund for $75m


Nakumatt sells 25 pct stake to a fund for $75m
Customers shop for fruits and vegetables inside the Nakumatt supermarket in the reopened Westgate shopping mall, in Kenya's capital Nairobi, July 18, 2015. REUTERS/Thomas Mukoya

Privately owned Nakumatt, Kenya’s biggest supermarket chain by sales, has agreed to sell a 25 percent stake to a foreign fund for $75 million, its managing director said on Wednesday.

“We are already at final stages with the investor. We are just waiting for the money to come,” Atul Shah told Reuters, without naming the fund involved.

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