Would you like to receive notifications on latest updates of the following headlines?

Otedola Speaks On Interests In Transcorp

POSTED ON May 9, 2023 •   Nigeria      BY Akinbohun Samuel

Famous Nigerian businessman Femi Otedola claimed that his interest in Transcorp, also known as the Transnational Corporation of Nigeria, was sparked by the need to maximize the firm's earnings.

In light of the current competition between Tony Elumelu, the chairman of United Bank of Africa, and Otedola for ownership of Transcorp, the former revealed this in his most recent statement.

He said that his N250 billion offer to purchase Transcorp had been turned down.

Recall that Otedola recently sold his Transcorp stock.

Elumelu now owns a majority of the company after HH Capital Limited, a special-purpose vehicle, increased its shareholding to 25.58% as a result of the development.

The statement says:

"Unfortunately, my bid to purchase Transcorp Plc for N250 billion was turned down. By growing the business to a Nigerian conglomerate with a market cap of at least N2 trillion rather than the existing N40 billion, I hoped to maximize its potential. However, it appears that certain stockholders have a different perspective."
READ ALSO
Dengue Fever Outbreak, 86 Cases Confirmed
BY Abiodun Saheed Omodara July 4, 2025 0

EDO, Nigeria - The Ministry of Health in Edo State reported on Friday that there is an outbreak of d...

READ ALSO
Federal High Court Orders Reinstatement of  Natasha Akpoti-Uduaghan, Calls Suspension "Excessive"
BY Abiodun Saheed Omodara July 4, 2025 0

A Federal High Court in Abuja ruled on Friday that the Nigerian Senate exceeded its authority by sus...

READ ALSO
UK Govt. Bans Caregiver Jobs Major Changes for Nigerian Applicants
BY Abiodun Saheed Omodara July 3, 2025 0

Nigerians looking to move to the United Kingdom (UK) for better opportunities through caregiver job...

READ ALSO
Nigeria Aims to Eliminate Routine Flaring by 2030 and Cut Methane Emissions by 60% by 2031
BY Abiodun Saheed Omodara July 3, 2025 0

The Nigerian Upstream Petroleum Regulatory Commission has announced that its gas-focused transition...

READ ALSO
2027 Election: Aisha Yesufu Urges ADC to Prioritize Youth,Women in Leadership
BY Abiodun Saheed Omodara July 3, 2025 0

Socio-political activist Aisha Yesufu has expressed concerns regarding the makeup of the recently fo...

READ ALSO
NNPCL Revamps Financial Discipline, Collaborate with Independent Producers
BY Abiodun Saheed Omodara July 3, 2025 0

The CEO of Seplat Energy Plc, Roger Brown, stated that the Nigerian National Petroleum Company Limit...

READ ALSO
Nigeria Unveils 37 New Crude Oil Evacuation Routes to Combat Theft and Boost Production
BY Abiodun Saheed Omodara July 3, 2025 0

The Federal Government has sanctioned 37 new crude oil evacuation routes nationwide as part of refor...

READ ALSO
NCC, REA Forge Partnership to Enhance Rural Connectivity and Energy Solutions
BY Abiodun Saheed Omodara July 3, 2025 0

The Nigerian Communications Commission (NCC) and the Rural Electrification Agency (REA) have officia...

OUR CHANNELS:

Obama’s Debunk Report on Divorce
BY Abiodun Saheed Omodara July 18, 2025 0

Former U.S. President Barack Obama and his wife, Michelle, have put to rest rumors regarding their m...


Bayelsa Govt. Cautions Principal Officers on Pension Delay
BY Abiodun Saheed Omodara July 18, 2025 0

The Bayelsa State Government has cautioned principal officers of local government councils to avoid...


NLC Decries Nigeria's Poor Labor Rights Record as National Disgrace
BY Abiodun Saheed Omodara July 18, 2025 0

The Nigeria Labour Congress (NLC) has expressed its worries about the nation's inadequate performanc...


Israeli Strike Hits Catholic Church in Gaza, Killing Two Civilians
BY Abiodun Saheed Omodara July 18, 2025 0

An Israeli airstrike on Gaza's sole Catholic Church resulted in the deaths of two individuals on Thu...


SSC Napoli Completes €25 Million Deal for Noa Lang from PSV
BY Abiodun Saheed Omodara July 17, 2025 0

Serie A champions Napoli confirmed on Thursday that they have signed Dutch forward Noa Lang from PSV...


Civil Defence Board Temporarily Closes Recruitment Portal for System Enhancements
BY Abiodun Saheed Omodara July 17, 2025 0

The Civil Defence, Correctional, Fire and Immigration Services Board has temporarily closed its recr...


Nigeria Should Aim for 60,000 Megawatts of Power Generation- Dangote
BY Abiodun Saheed Omodara July 18, 2025 0

President of the Dangote Group, Alhaji Aliko Dangote, argues that Nigeria's low electricity generati...


FG Denies Emergence of New Terrorist Groups Amid Turkish Warnings
BY Abiodun Saheed Omodara July 17, 2025 0

The Federal Government On Wednesday, stated that no new terrorist groups have emerged in the country...


151 Senior Police Officers Face Misconduct Hearings- NPF
BY Abiodun Saheed Omodara July 18, 2025 0

The Nigeria Police Force has revealed that 151 senior officers are currently undergoing proceedings...


CPC Loyalists Face Uncertain Future Amid Buhari's Death, Tinubu's Leadership
BY Abiodun Saheed Omodara July 18, 2025 0

The passing of former President Muhammadu Buhari has sparked renewed speculation regarding the polit...


More Articles

Load more...

Menu