Co-op set for £143m takeover of Nisa
The Manchester-based Co-operative Group looks set to realise its longstanding aim to buy the 3,200-convenience store chain Nisa for £143m, trumping a rival bid from Sainsbury’s.
Nisa recommended that 1,190 of its shopkeeper members, who will be required to vote on any deal, accept the takeover bid after four months of protracted talks.
The Co-op has offered to pay £137.5m to Nisa members for the entire business and costs of the deal amounting to £5.5m while also absorbing £105m of its current debt.
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