[2008-06-19]  Uchumi partner search attracts foreigners
Uchumi supermarket’s strategic partner will be known in August this year. Uchumi supermarket receiver manager Jonathan Ciano revealed that four international companies are among the eight potential partners. Briefing the press on the financial performance of the chain that was placed under receivership in 2006, Mr. Ciano said the ownership could include a consortium. He however declined to name the interested firms, saying it would flout procurement rules. He said twelve firms had expressed interest but only eight submitted their bids. “An analysis of the firms is being conducted, after which financial and technical bids will be invited,” Mr. Ciano said. He said Uchumi would immediately seek to return to the stock exchange once the strategic partner is identified. Mr. Ciano announced that the sales revenue for the first six months of this year had increased by 30 per cent compared to the same period last year, adding that the supermarket has paid KSH160 million of the KSH950 million loan owed to PTA Bank and Kenya Commercial Bank.
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