Piotr i Paweł found investor from Africa
14:38
Piotr i Paweł signed a Letter of Intent (LoI) with South African Spar Group. Both companies do not reveal details related to the transaction. However, wiadomoscihandlowe.pl reported, citing unofficial sources that a new company will be set up, in which Spar Group will receive the majority of stake.
"Spar Group Ltd. confirms its intention to invest in the Piotr i Paweł retail chain in Poland," the company said in a statement cited by Business Insider. Spar Group added that the preliminary agreement is expected to be signed within the next weeks. After that Spar Group will seek the consent of the Office of Competition and Consumer Protection (UOKiK) to close the deal.
