Ireland Blyth Limited (IBL.mu) acquires a 40% stake in Naivas International
Further to the Cautionary Announcement dated 03 June 2022, the board of IBL (the “Board”) wishes to inform the shareholders and the public in general that, on 23 June 2022, IBL’s subsidiary, Mambo Retail Ltd (“Mambo Retail”) entered into a share purchase agreement for the acquisition of a stake of 40.0% in Naivas International. IBL subscribed to 65.8% of Mambo Retail’s capital (the “Transaction”) which represents an effective stake of 26.3% in Naivas International. Naivas International is a private holding company, incorporated in Mauritius, and invests in the retail sector in Kenya through its wholly owned subsidiary Naivas Limited which is the leading Kenyan retail operator with a chain of modern supermarkets in Kenya.
The Board also wishes to confirm that the Transaction is a disclosable transaction pursuant to the requirements of Chapter 13 of the Listing Rules and the Listing Division of the Stock Exchange of Mauritius (“SEM”) has, on 19 August 2022, approved the disclosable transaction circular (the “Circular”).
The Circular can be consulted on the website of the SEM and that of IBL (https://www.iblgroup.com/investors). Copies of the Circular will also be available at 4th Floor, IBL House, Caudan Waterfront, Port Louis between 22 August 2022 and 5 September 2022 during business hours.
By order of the Board
IBL Management Ltd
Company Secretary
22 August 2022
The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.
Recent Documents & News
-
Interim Reports
Ireland Blyth Limited (IBL.mu) Q32024 Interim Report – May 17, 2024 -
Articles
IBL Ltd Reports its Portfolio Expansion with an Increased Stake in Naivas Supermarkets and an acquisition of Run Market and Harleys – March 18, 2024 -
Interim Reports
Ireland Blyth Limited (IBL.mu) HY2024 Interim Report – February 22, 2024 -
Articles
IBL Group Exceeds Pre-Covid Levels with 15% Turnover Growth, Achieving Historic Financial Year – December 18, 2023 -
Annual Reports
Ireland Blyth Limited (IBL.mu) 2023 Annual Report – December 15, 2023
