IBL Group, a prominent Mauritius conglomerate led by Mauritian tycoon Arnaud Lagesse, has announced its decision to subscribe to additional shares in Mambo Retail, a move that will enable the acquisition of an additional 11-percent stake in Naivas International.
This acquisition will enable Mambo Retail to secure a controlling interest of 51 percent in Naivas International, Kenya’s leading retail chain.
Naivas has long been established as a dominant player in Kenya, boasting an extensive network of retail outlets nationwide. With the backing of IBL Group, the retail chain is poised to expand its operations and solidify its position as a key player in the Kenyan retail landscape.
The acquisition of a majority stake in Naivas by Mambo Retail is expected to create synergies that will drive growth and unlock new opportunities for both entities. The strategic vision of Mambo Retail, coupled with Naivas’ robust market presence, presents an exciting prospect for the future of the retail industry in Kenya.
Investors and shareholders are advised to approach transactions involving IBL shares with caution, as the acquisition of a majority stake in Naivas has the potential to impact the future performance and prospects of IBL. As excitement builds surrounding this transaction, prudent decision-making is encouraged.
IBL Group, known for its impressive portfolio of over 200 brands across 19 countries, has set its sights on East Africa, specifically Kenya.
The group has already established an office in Nairobi to spearhead its search for potential buyout opportunities, signaling its commitment to expanding operations and cementing a strong presence in the Kenyan market.
Lagesse, alongside his siblings Benoit, Hugues, Jean-Pierre, Thierry, and Stephane Lagesse, holds a 16.8-percent joint stake in IBL Group, equivalent to 114,369,469 shares.
This latest move marks an important milestone in the retail industry, heralding a new era of expansion and dominance for Naivas.
With IBL Group’s backing, the leading retail chain is poised to embark on a journey of even greater success, setting the stage for a vibrant and dynamic retail landscape in Kenya.