Transcorp Hotels Plc, a firm largely owned by Tony Elumelu’s investment firm, Transnational Corporation Plc, has disclosed a plan to sell Transcorp Hotels, Calabar.
Transcorp Hotels is seeking buyers for the 100 per cent stake held in Transcorp Hotels Calabar, one of its four hotel brands, a circular released to the capital market on Wednesday states.
Ripples Nigeria understands that Transcorp Hotel’s investment in Transcorp Hotels Calabar is worth N3.50 billion as of December 31, 2022, while Transnational Corporation owns N7.80 billion in Transcorp Hotels.
