Tuesday, 10 October 2017

Nisa on track to be sold to Co op

The board of Nisa has recommended acceptance of a £143m takeover offer from The Co-operative. 

Co-op will pay £137.5m over four years plus £5.5m in transaction costs and take on Nisa’s £105m debt.

Nisa would remain a standalone business and brand but it appears that its members can continue trading under the Nisa brand, convert to Co-ops or sell their business to the Co-op group.

G H Bowkett Ltd currently own 225 shares in Nisa out of a total 60,000 in circulation. Each share could be worth up to £2,291 under the deal which is still subject to a vote by the members next month.

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