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Sfiax buys SAHCOL for N5.2bn

By Godwin Oritse
THE Sifax Group, providers of maritime services, has won the bid for the Skyway  Aviation Handling Company Limited (SAHCOL) with a bid price of N5.2 billion

The company after winning the bid made the compulsory 30 per cent  payment of N1.66 billion and is currently making plans to commence operation before the end of first quarter of next year.

Sifax, Vanguard gathered, beat four other bidders to win the bidding process. Winning the bid has made SAHCOL a member of the Sifax Group.

Confirming the win, the group’s spokesman, Mr Oliver Omajuwa, said this would mean transferring the company’s expertise from the maritime industry to the aviation sector.

He said the final take over of SAHCOL would mean more job opportunities and more taxes to the government coffers.

The decision to re-sell the firm was taken following the failure of the the preferred and the reserved bidders to make payment at the deadline as stipulated in the terms of sale made to the bidders. Sifaz being the first to pay took the day.


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