Tuskys to guarantee Sh3bn Nakumatt debt

Nakumatt Managing Director Atul Shah (left) and Tuskys chief executive Dan Githua. PHOTOS | FILE | NMG

The battle to save Nakumatt Supermarkets yesterday took a new turn after rival Tuskys offered to inject Sh650 million into the troubled retail chain and recurring payment guarantees of between Sh1.5 billion and Sh3 billion for the outstanding debt.

The offer is subject to the Competition Authority of Kenya (CAK) approving a takeover bid by Tuskys.

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