Shares of Transcorp, owner of three power plants with 2,000 megawatts or more than 40 per cent of Nigeria’s total power-generating capacity, slumped 9.9 per cent on the Nigerian Exchange (NGX) in Lagos Nigerian businessman Femi Otedola has sold his substantial shareholding of 6.3 per cent, a haul of 2.6 billion shares bought in separate transactions in Transcorp, to Mr Tony Elumelu. Earlier, within days of his acquisition of a substantial shareholding, Mr Elumelu had racked up his interest from 2.07 to 25.9 per cent. This is perceived by…
Read MoreOtedola Surrenders Transcorp’s Top Ownership Tussle To Elumelu
