Here’s who’s buying it
The Board of Nisa Retail Limited, the member-owned retail and wholesaling group, has unanimously recommended to its shareholders an offer of up to £137.5m from The Co-op Group.
The offer, if successful, would bring significant immediate and long-term value for Nisa members, access to greater scale, access to the award-winning Co-op range – including the Co-op own label proposition, retention of their independence of operating their stores how they want, while also enabling them to remain part of a member-owned organisation within the growing UK convenience retail sector.
The Co-op Group’s offer to buy 100 per cent of the shares in Nisa for up to £137.5m, plus the payment of associated deal costs of up to £5.5m, results in a total payment by the Co-op Group of up to £143m.
Nisa shareholders will receive an equal initial payment, a deferred share payment payable over 3 years, as well as additional rebates payable over 4 years.