By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Forte Oil Plc said it has acquired the Geregu Power Plant under the recent privatization exercise carried out by the Bureau of Public Enterprise (BPE).
The company in a notice to the Nigerian Stock exchange (NSE) said the purchase was done through the it’s subsidiary, Amperion Power Distribution Company, made up of a consortium of Forte Oil Plc as majority holder, BSG Resources Limited and Shanghai Municipal Electric Power Company.
According to the Forte Oil, its expected to take full control of the power Plant (Geregu Power Plant) on the 21st of September when the formal handing over ceremony will take place.
