About two months after scoring a major point when his Geregu Power became the first power-generating company to be quoted on the Nigerian Exchange, businessman/investor, Femi Otedola is already having acquisition talks with investors. Barring any last-minute changes, the Fund for Export Development in Africa (FEDA) will sign a deal to enable it acquire a portion of the power generating company.
FEDA is the impact development arm of the Africa Export and Import Bank (Afreximbank). THEWILL had reported that after Geregu scaled the regulator’s hurdle, the power company made its entry into NGX with a market value totalling N250 billion. The power firm is valued at N307 billion with 2.5 billion outstanding shares sold at N122.80.
Ivory Ukonu is a versatile journalist with many years of experience, with entertainment and society reporting as her area of core competence.
