NAIROBI, KENYA: Deacons East Africa has sent out a statement advising shareholders and investors to be cautious in dealing with company shares.
This it says follows talks for the sale of Mr. Price franchised business in Kenya.
“Mr Price Group Limited, one of the franchisors of Deacons, has approached Deacons with a proposal to purchase the Mr. Price franchised business in Kenya. Accordingly, Deacons has entered into preliminary negotiations in respect of the sale of Mr price franchised business to Mr Price,” said notice signed by company secretary JLG Maonga.
“We are committed to expansion and growth and continuously and actively seeking for new opportunities for growth.”
“In the meantime, the shareholders of Deacons and other investors are advised to exercise caution when dealing in the shares of the company.”
Deacons operates the F&F, Bossini, Adidas, 4u2, Truworths and lifefitness brands. In a cautionnery notice on Monday, Deacons said it is continuously and actively seeking for new opportunities for growth.