Choppies comes to Zimbabwe


GABORONE — Botswana Stock Exchange-listed retail group Choppies Enterprises yesterday announced 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 $424,2 million.

This would be equivalent to at most $21,2 million.

The settlement of the consideration would be done over a period of time as the takeover of the stores progresses.

— African Alliance