HomeBusinessDangote: No Qualms If Otedola Attempts Takeover Of Dangote Cement
Business

Dangote: No Qualms If Otedola Attempts Takeover Of Dangote Cement

Babs-Oluribigbe Adeoye
By Babs-Oluribigbe Adeoye

Aliko Dangote, the President/Chief Executive of Dangote Industries Limited, Aliko Dangote, caused a stir on Friday during Dangote Cement customers appreciation event in Lagos.

At the event, while welcoming dignitaries, including his friend, business mogul and Billionaire Femi Otedola, as newest shareholder, saying he (Otedola) is welcome to attempt a corporate takeover of Dangote Cement.

Mr Dangote currently controls about 85 per cent of Dangote Cement.

- Advertisement -

In his effort to disabuse the mind of some corporate managers, who view Otedola as shrewd businessman and a go getter, Dangote quickly added that, “There are people who fear that he is going to do the same thing he did at Transcorp; I say he’s welcome.”

On Monday, Otedola, in a statement confirmed his “significant acquisition of shares in Dangote Cement,” saying that the “strategic investment underscores his confidence in Dangote Cement’s potential to generate foreign exchange for the country and his dedication to supporting businesses that contribute to Nigeria’s economic resilience.

Otedola said, “Dangote Cement’s unique position with two export terminals offers a substantial opportunity to earn foreign exchange, crucial for Nigeria’s economy. This, along with the company’s pan-African presence, makes it an ideal investment choice.”

As at today, Dangote Cement is the first listed company to cross N10tn in market capitalisation.

- Advertisement -

The company closed trading on Friday at N11. 827tn with a unit of its securities priced N694.1 each.

- Advertisement -
spot_img
Previous article
Ajisafe Emerges New  PDP National Vice Chairman South West
Next article
Ibadan Mishap: NCAA Suspends Private Jet Operator’s Licence
Babs-Oluribigbe Adeoye
Babs-Oluribigbe Adeoye
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_img

Most Popular

Load more
- Advertisment -

Recent Comments

Sunday peter on Dr. Niyi Odedele Balances Medicine, Education, Politics With Vision For 2027
Yomi on Shehu Sani Alleges Foreign Influence, Financial Incentives In Violent Northern Protests
Yomi on Shehu Sani Alleges Foreign Influence, Financial Incentives In Violent Northern Protests
Bunmi on Senator Kwankwaso Urges Nigerians To Opt For Ballot Over Protests Amid Upcoming Demonstrations
Etu Atuluku on Hon. Abubakar Maliki Enters Dekina Chairmanship Race With Promises Of Reform, Development

EDITOR PICKS

POPULAR POSTS

POPULAR CATEGORY

ABOUT US

WesternLifeNews, an online news medium was established in January 2019. The publication is a sister news medium to Westlifemag, a monthly tabloid. Both are being published by BAN Communications.Our reputation rests on our commitment to providing adequate and reliable information at all times without any bias.

Contact us: info@westernlifenewsng.com

FOLLOW US

Copyright @2024. All Right Reserved