Femi Otedola sells majority stake in Geregu power for N1.1 trillion

[Augusta]

Otedola, billionaire businessman, has sold his major stake in Geregu Power Plc for N1.088 trillion in a deal backed by a consortium of banks
The Nigerian Exchange (NGX) confirmed the transaction on Monday. Otedola’s Amperion Power Distribution Company Ltd previously owned nearly 80 percent of the power-generating company.

 

[kit_hung]

I see Femi Otedola's decision to sell Geregu Power shares for 1.1 trillion as risky and reckless move. He has made significant profit after twelve years of investment and is now focusing energies on banking. That is the mind of rich man who knows when to step out to protect his hold.

 

[serki777]

Otedola, billionaire businessman, has sold his major stake in Geregu Power Plc for N1.088 trillion in a deal backed by a consortium of banks
The Nigerian Exchange (NGX) confirmed the transaction on Monday. Otedola’s Amperion Power Distribution Company Ltd previously owned nearly 80 percent of the power-generating company.

Large exits like this usually mean capital rotation, investors cash out mature assets and move funds into new sectors, so the key question is where that N1.1 trillion goes next because reinvestment often has bigger economic impact than the sale itself.