|
PRIVATISATION
In 2004, the Bureau of
Public Enterprises in line with the resolve of the Obasanjo
administration to shed the weight of non-performing Parastatals
and agencies by privatising them, slated The Daily Times of
Nigeria Plc for privatisation.
In an exercise that
proved to be the most successful sale by the BPE, Folio
Communications Limited (“FCL”) emerged the highest bidder and
consequently won to acquire 96.5% controlling shares of the
Daily Times. The winning bid price was N1, 250,000,000.00 (One
Billion, Two Hundred & Fifty Million Naira Only).
Thus Folio Communications became the Core and Strategic Investor
of The Daily Times of Nigeria Limited.
|
