Reply to thread

Message

[QUOTE="Munyaradzi Mafaro, post: 81112, member: 636"]
Otedola just cashed out of his power company for three-quarters of a billion dollars. Nigerian billionaire Femi Otedola sold his seventy seven percent controlling stake in Geregu Power Plc, valued at nearly three trillion naira, through a deal structured around the plant's majority shareholder. He offloaded his ninety-five percent share in Amperion Power Distribution Company to an Abuja-based firm called MA'AM Energy Limited, effectively transferring control without moving Geregu's public shares on the Nigerian Exchange.

The transaction, financed by a group of local banks led by Zenith Bank, makes MA'AM Energy the new controlling entity of the major power generation asset. Financial advisers from Blackbirch Capital helped orchestrate the sale, which specifically involved the holding company Amperion and not a direct trade of Geregu stock. This reshuffle leaves the publicly traded company's share structure intact while shifting the ultimate ownership behind the scenes.

Geregu Power remains a heavyweight on the exchange, its shares priced high as one of the market's most valuable and profitable firms. The deal underscores the significant movement of capital and strategic assets within Nigeria's domestic energy sector, highlighting the liquidity available for major infrastructure investments among local players.
[/QUOTE]

Name