Mon Oct 09 22:31:05 EAT 2017
The board of directors of Deacons East Africa has given the green light for negotiations to begin in the sale of the its flagship Mr Price franchise in Kenya.
South Africa's Mr Price Group approached Deacons and proposed to buy Mr Price Home and Mr Price Apparel, which Deacons has agreed. The official sale, however, will be subject to regulatory and shareholder approval once the sale agreement is completed. If approved, this will see the South African company take over all Mr Price outlets in the country.