CA approves Choppies directors� P450m deal

Ottapathu
Ottapathu

The Competition Authority has given Choppies directors Ramachandran Ottapathu and Farouk Ismail the greenlight to dispose of nine firms linked to the retail giant, for P450 million.

A consortium of investors led by the Standard Chartered Private Equity Mauritius, is tying up the deal to buy Spark Capital, a company created to house the nine firms, most of which are Suppliers to the Choppies Enterprises.

Apart from their majority shareholding in Choppies, Ottapathu and Ismail also jointly own 94 percent of Spark Capital, with the remainder held by minority shareholders, mostly employees.

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

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