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SAHCOL now worth N13.4 bn

By AKOMA CHINWEOKE

THE bid for the privatization of SAHCOL was concluded by the Bureau of Public Enterprise (BPE) at the Transcorp Hilton Hotel recently, with Eraskorp Consortium emerging the highest bidder.

The bid exercise which came in two phases was keenly contested by six companies – Tak Continental Limited, Pan Express Services Limited, Eraskorp Consortium, Skyway Aviation Handling Company Limited, Moore Associates and Aviation Handling Partners Limited.

At the end of the first phase result shows that Tak Continental bided  N640m, Pan Express  N2.17m, Eraskorp Consortium N450m, Skyway Aviation N4.19m, Aviation Handling Partners Ltd N651m, and Moore Associates N2.5bn. The second half saw Eraskorp Consortium increasing its bid to N13.4 bn, Pan Express – N10.4 bn, Skyway Aviation – N9.1 bn, Tak Continental – N7.7 bn, Moore Associates – N6.2 bn, and Aviation Handling Partners – N5.5bn.

At the end of the exercise, Eraskorp Consortium, emerged the highest bidder with N13.4 bn through  an alliance that consists of Eraskorp Nigeria Limited (40 percent), Standard Alliance Insurance Plc (25 percent), Cambata PVT Limited (15 percent), Revilo Aerospace Corporation (10 percent), and Miles-Ryder Nigeria Limited (10 percent).


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