RMB, Investec swoop on Choppies-related firms

The 10 companies, housed under the name Kamoso Distribution were two years ago sold by Choppies directors, Ramachandran Ottapathu and Farouk Ismail to a consortium led by Standard Chartered Private Equity (PE) in a deal worth P452 million.

Under the terms of the new deal, StanChart PE which bought a 12.8% stake in Choppies in 2013 in a deal estimated to be worth $60 million, together with Development Capital Partners (DCP) are selling 72% in Kamoso Distributors.