The Asset Management
Corporation of Nigeria has confirmed the ownership of 60 percent stake
in Aerocontractors airline, The PUNCH can authoritatively report.
Aerocontractors’
indebtedness to commercial banks, estimated to be over N32bn, which had
been bought over by AMCON during the banking sector reforms, had been
converted to equity stake for the corporation, it was learnt.
The
Managing Director, AMCON, Mr. Mustafa Chike-Obi, in an exclusive
interview with our correspondent on Wednesday, confirmed that the
corporation had acquired 60 percent stake in the airline.
Aerocontractors
had in a statement last week said AMCON held controlling stake in it
but did not give the specific shareholding of the corporation in the
company.
However, Chike-Obi told our correspondent that AMCON
owned 60 per cent in the company and would be ready to sell the stake to
a competent buyer.
He said, “AMCON owns 60 percent stake in
Aero. If somebody wants to buy our 60 per cent stake in Aero tomorrow at
a profit; absolutely, we will consider it. We are not emotional about
it.
“I told you we want to make sure that we get our money back
and also make sure that whoever runs Aero runs it in a profitable and
well-regulated manner. So, once those things are satisfied, we are happy
to sell it.”
Asked if AMCON was planning to merge Aero with
other debtor airlines, Chike-Obi said, “There are two major airlines in
Nigeria today: Aerocontractors and Arik Airlines. Both of them have
benefited from AMCON intervention. There are many other smaller airlines
that we have relationship with. We will recover our money but we also
want to make sure that the Nigerian public continues to be served by
well run, well regulated and well maintained airlines. And that is our
intention, be it Arik or Aero.
“Everything is on the table that
will make the airline industry more efficient, more profitable and allow
us to get our money back. If a merger makes sense, we will consider it;
if it does not make sense, then we will not. Our objective is to make
the airline industry safer and more profitable.”
Prior to the
development, Aero was 100 percent owned by the Ibru family, which
acquired full stake in the airline about three years ago after its
Canadian partner, CHC, pulled out its equity.
Chike-Obi also vowed that the corporation would recover its N65bn from Capital Oil at all cost.
He, however, said the corporation would vacate Capital Oil’s facility in Lagos for the purpose of “public interest.”
He
said, “Capital Oil is particularly a difficult case. We have tried for
two years to talk with the owner. He has made a number of agreements and
he has defaulted on every one of them. But we are a law abiding
institution. Even though legally we can still stay in the facility until
the appeal is heard, we have decided to withdraw from Capital Oil’s
facility.
“There was a pipeline explosion yesterday (Monday). We
don’t want to be associated in any way with hardship of the Nigerian
people during the holiday season. Even though we don’t believe that
Capital Oil is essential to supply us fuel in Nigeria, we will not stand
in the way and we are withdrawing from the facility as from tomorrow.”
“However,
we will continue to pursue every step to make sure we recover our
money. He owes us N65bn. We will not stand by and let that money go to
waste. We will collect our money; but we also are mindful of public
interest and so we will be leaving there as from tomorrow. We will
collect that money from Capital Oil, I can assure Nigerians of that,”
Chike-Obi added.
Source: http://www.punchng.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment