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• Naivas, a Kenyan retailer, said today that it is negotiating a sale of a majority of the company to Massmart, the South African retailer that is majority owned by Walmart.

Rumors first broke over the weekend about Walmart looking for a way into the Kenyan market, with three chains defined as possible targets.

According to Reuters, Naivas Chairman Simon Mukuha said that "the deal is in the pipeline," and that he plans to sell 50 percent of the company, plus one share, to Massmart.
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