The founder of Geregu Power Plc, Femi Otedola, saw his investment value in Geregu rise by 13.83 per cent after selling five per cent of Geregu shares to Africa Export and Import Bank (Afreximbank).
Afreximbank acquired the five per cent shares on Tuesday through its impact development arm, Fund for Export Development in Africa (FEDA).
Ripples Nigeria previously reported that both FEDA and Geregu were in talks to secure funding in exchange for a substantial stake in the electricity company.
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