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Naivas pays five times more for Nakumatt assets
A near-empty Nakumatt outlet in Mombasa in 2018. Nakumatt went into voluntary supervision in early 2018 after seeking protection from its creditors. FILE PHOTO | NMG
Naivas Supermarket spent more than five times the value of assets the retail chain acquired from rival Nakumatt’s remaining six branches in a deal worth Sh422 million.
Documents released to Nakumatt creditors show that Naivas outbid rivals Chandarana, Tuskys and Quickmart for the remaining assets of the former giant retail chain.
