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CA approves Choppies directorsďż˝ 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.

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Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

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