Negotiation between Femi Otedola’s company, Geregu Power, and Fund for Export Development in Africa (FEDA) is set to hit advanced stage as the latter received internal approval to acquire minority stake.
Ripples Nigeria had previously reported that both Geregu and FEDA were discussing share acquisition, but it was neither stated if the stake would be minority or substantial
According to a statement dated December 23, 2022, and obtained by Ripples Nigeria on Wednesday, FEDA, which is a development impact investment platform of the African Export-Import Bank (Afreximbank), disclosed that the stake would be minority.
