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The owners of the Nakuru-based Gilani's Supermarket are set to loosen their grip on the homegrown retailer after selling a controlling stake to a private equity fund.
The Competition Authority of Kenya (CAK) announced the sale deal on Friday, marking a new era for the 48-year-old family-owned supermarket.
"The Competition Authority has authorised the proposed acquisition of control of the business and assets of Gilani's Supermarket Ltd by Oak Harbour Holdings Ltd," said CAK Director General Wang'ombe Kariuki in a gazette notice dated September 20.
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