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Transcorp, firm suspend ownership tussle of Transcorp Hilton

In a statement made available to the News Agency of Nigeria (NAN) on Friday by the Bureau of Public Enterprises (BPE), the agreement was reached…

In a statement made available to the News Agency of Nigeria (NAN) on Friday by the Bureau of Public Enterprises (BPE), the agreement was reached at a meeting brokered by the Director General of BPE, Dr Christopher Anyanwu.

The meeting, according to the statement, was attended by Transcorp Group Chairman, Prof Ndi Okereke-Onyuike and Capital Leisure Managing Director, Mr Mohammed Kari.

It said that the parties agreed to resolve their differences amicably over who owned the 51 per cent equity share for the growth and development of the hotel.

According to the Head of Public Communications of the BPE, Mr Chigbo Anichebe, the agreement which is aimed at restoring confidence in the business, takes immediate effect.

NAN reports that the two firms and others won the bid for the 51 per cent equity in NIRMSCO Properties Ltd in the financial bid held on Oct. 11, 2005.

The other firms are Kapital Insurance Company Ltd, Capital Tourism and Hospitality Ltd, NSTIF and Harris Dredging Ltd. (NAN)