Spinneys Group to launch in Libya next year – CEO

Spinneys Group, the supermarket operator with a string of stores across Lebanon and Egypt, is close to signing a deal to open two full-sized hypermarkets in Libya, its CEO has said.

“The next market we will be entering into is Libya, where we have an arrangement on the table,” Michael Wright told Arabian Business in an interview.

The move will be through a tripartite joint venture involving Spinneys, a group of unnamed Syrian investors, and a Turkish mall developer, Wright said.

“The first [hypermarket] should be open by end-2011, and the second a year after that,” he added…read more

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