Tuskys Supermarkets will take up a 51 per cent stake in troubled Nakumatt as part of a proposed buyout deal that will also see Nakumatt’s long-serving chief executive and top owner, Atul Shah, step down.
Newly filed court papers indicate that Tuskys’ purchase of a majority stake in Nakumatt could be completed by December 12 in a deal that will also see Tuskys appoint Mr Shah’s replacement and a new chief finance officer (CFO).
