September 18, 2017 / 9:35 AM / a year ago

Kenya's Nakumatt Supermarkets enters merger with local rival Tuskys

NAIROBI, Sept 18 (Reuters) - Kenya’s Nakumatt Supermarkets has entered a merger with local retailer Tuskys to help it deal with severe cash flow problems that have left it with empty shelves and led to the closure of some outlets, Nakumatt’s managing director said on Monday.

“It is a merger,” Atul Shah told Reuters. Asked if the deal would help Nakumatt resolve its cash flow problems, he said: “It is a start.”

More details on the deal will be issued later in the day, he said.

Tuskys was not available for immediate comment. (Reporting by Duncan Miriri; editing by Jason Neely)

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