Nakumatt sale of 25pc stake values retail chain at Sh30.8bn

Nakumatt has set the cost of a 25 per cent stake of the retail chain at Sh7.7 billion, potentially valuing the entire business at about Sh30.8 billion.

The retailer on Wednesday told news agency Reuters that it was in the final stages of selling the stake to a strategic investor, in what insiders say is part of a plan to retire the supermarket chain’s heavy debt load.