In a Landmark Deal, NIPCO Plc Acquires Abuja Sheraton Hotel – THISDAYLIVE


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Exactly six years after it acquired Mobil Oil Nigeria Plc, now known as 11plc, an integrated energy solutions provider, NIPCO Plc, has acquired the Abuja Sheraton Hotel in a conscious move to drive its mission to diversify into the hospitality industry. 

In this latest landmark deal, 22 Hospitality Limited, a wholly-owned subsidiary of NIPCO Plc, acquired a majority stake in Capital Hotels Plc (CHP),  owners of Abuja Sheraton Hotel .

NIPCO Plc is a key downstream operator in Nigeria’s oil and gas industry with footprints across the country.

A statement issued yesterday by the spokesman of NIPCO Plc, Alhaji Lawal Taofeek, quoted the Group Executive Director of the company, Alhaji Aminu Abdulkadir, as saying that the new investors are desirous of restoring the hotel to its former glory of being the first-choice luxury hotel in Abuja.

According to Aminu, this strategic drive is also aimed at making the hotel carve a niche for itself…

Source: Thisday Newspaper