Local retailer Naivas Supermarket has confirmed it is selling a minority stake to a France-based private equity (PE) fund, Amethis Finance, in a deal that is set to further professionalise the operations of the family-owned business and expand its network.
Naivas Monday announced the signing of the agreement with Amethis Fund II, the PE fund’s investment vehicle, while stating that the parties were awaiting necessary regulatory approval to proceed with the transaction.
