Femi Otedola Sells Stake in Geregu Power for N1.088 Trillion
Nigerian businessman Femi Otedola has sold a significant stake in Geregu Power Plc for N1.088 trillion to a consortium led by Zenith Bank Plc. Otedola, who owns 17.01% of First Bank, will now concentrate on expanding his investments in the Nigerian banking sector.
The shareholding structure of Geregu has changed with Amperion Power Distribution Company Ltd becoming the new controlling shareholder. This transaction does not involve a direct sale of shares in Geregu Power Plc, maintaining the company's share structure on the NGX.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
Read full article
Continue on Daily Trust
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Otedola Sells Majority Stake in Geregu Power Plc for 1.088 Trillion Naira
Femi Otedola Steps Down as Geregu Power Chair in Major Leadership Shake-Up
Nigerian Billionaire Femi Otedola Exits Power Sector in $750M Deal
Femi Otedola Sells Geregu Power Stake to MA'AM Energy, New Board Appointed
Femi Otedola's Amperion Sells N4.4 Billion Shares of Geregu Power PLC in Cross-Deal
Geregu Power Appoints Abdulaziz Yari as Chairman Amid Leadership Changes
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
