S. Africa retail chain caught in Naivas ownership battle
Naivas Supermarket at Nairobi’s Westlands area. Naivas is Kenya’s fourth largest retail chain behind Nakumatt, Tuskys and Uchumi. It is the second retail chain to fall into a succession war after Tuskys, whose dispute is still pending in court.
Massmart Limited, Africa’s third largest distributor of consumer goods, wants to buy a 51 per cent stake in Naivas Supermarket. However, Newton Kagiri Mukuha, the elder son of the late Peter Mukuha Kago, the founder of Naivas, has moved to court opposing the sale.
He says his siblings want to disinherit him by excluding him from discussions on the sale of the firm. He is the first born son of Mr Mukuha and cannot be excluded from gains made by his father when he was alive,” Mr Evans Ondieki, representing Mr Mukuha, told the High Court in Nakuru Wednesday.
Massmart has also announced a plan to set up locally by 2014 when the Thika Mall is completed.... Read the full, comprehensive news article and discuss at The Daily Nation