Company news in brief

Shoprite ends Kenya expansionSouth Africa's Shoprite Holdings said yesterday it expected to close or dispose of its remaining two stores in Kenya in the year ahead, leaving the East African country after opening its first store there more than two years ago.The supermarket chain has been reviewing its long-term options in Africa as currency devaluations, supply issues and low consumer spending in Angola, Nigeria and Zambia have weighed on earnings.The decision to leave comes a month after Shoprite said it was considering reducing or selling all of its stake in its Nigerian subsidiary.Shoprite, with more than 2 300 stores across Africa, reported a 6.4% rise in sales for the year ended June 28, with like-for-like sales up by 4.4% as customers spent more on groceries at its discount Usave and mid-to-upper end Checkers stores.Diluted headline earnings per share (HEPS), the main profit measure used in South Africa, from continuing operations rose to 765.8 cents against a restated figure of 746.9 cents a year earlier. – Nampa/ReutersAspen sells thrombosis drug businessSouth African drugmaker Aspen Pharmacare has agreed to sell the rights to its European thrombosis business to US pharmaceutical company Mylan for almost 642 million euro (US$759 million), sending its shares up 7% yesterday."The transaction supports Aspen's strategy of continuing to reshape the group towards a greater concentration of revenue in emerging markets," Aspen said in a statement.The company said it would retain the thrombosis business almost exclusively in emerging markets.The sale will also allow Aspen to streamline its business in Europe, strengthen its balance sheet and provide "financial headroom" for future investments, the company said.Proceeds from the deal will be used to reduce the group's debt, Aspen said, adding Mylan would pay 263.2 million euro on completion of the deal and the balance in June 2021.Investors have been concerned about Aspen's debt in the last two years after levels moved close to breaching debt covenants. – Nampa/ReutersAB InBev starts search for new CEOBudweiser beer maker Anheuser-Busch InBev has started searching for a replacement for its long-serving chief executive Carlos Brito, the Financial Times reported on Monday.The world's biggest brewer is considering external candidates to replace Brito, who has been its CEO for 16 years and has overseen a string of mergers that transformed two Brazilian and Belgium drink-makers into a global giant, the FT reported, citing people with knowledge of the matter.AB InBev declined to comment on the FT report. – Nampa/Reuters

Company news in brief

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Republikein 2026-01-12

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Company news in brief

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