NACFA - Jorotom Pays N359m
September 26, 2006
NACFA - Jorotom Pays N359m. Check it out:(This Day (Nigeria) Via Thomson Dialog NewsEdge) In a bid to actualise its dream of purchasing the Federal Government owned National Clearing and Forwarding Agency (NACFA), Jorotom International Agency Nigeria Limited, one of the companies which recently won the bid to buy the multi-billion naira agency has paid N359, 999,820 to the Bureau for Public Enterprises (BPE).
With the payment which represents 10 per cent of the winning bid of N3.59bn, Jorotom which is a key player in international forwarding, shipping, clearing and air cargo handling, has beat the deadline which stated that the preferred bidder must effect 10 percent payment within 10 days after the receipt of offer letter from BPE.
BPE had through a letter dated September 6, 2006, conveyed the approval of the National Council on Privatisation (NCP) for Jorotom to pay 10 per cent of the bided sum on or before September 20, 2006.
According to the letter which was signed by the Director General of BPE, Mrs. Irene N. Chigbu, the remaining N3, 239,998,380, representing 90 percent of the amount required for the outright purchase of NAFCA shall be paid to BPE on or before October 18, 2006.
"Your failure to pay within the stipulated period will leave us with the option of executing the bid bond submitted by you and offering the enterprise to the reserved bidder", the letter added.
Apparently conscious of the strict stipulations outlined by BPE, Jorotom International Agency Nigeria Limited effected payment last Wednesday, a move seen by key players in the maritime industry as a sign that the company is prepared to take full ownership of NACFA. The company bided to acquire 100 per cent equity stake in NAFCA.
A statement issued by the company and made available to THISDAY at the weekend said Jorotom team to effect the payment was led by its Chief Executive Officer, Senior Evangelist J. Omotosho.
The payment, according to the statement which was signed by Jorotom General Manager, Mr. Austin Modebe, was also witnessed by top officials of Phoenix Capital Limited and Skye Bank Plc.
While Phoenix Capital Limited is the Jorotom's financial adviser for the acquisition of NAFCA, Skye Bank Plc is one providing the necessary funds for the transaction which will put the multi-billion naira government agency under the management of the international shipping company.
Among the companies that participated in the bid to purchase NAFCA were Kungo Rock Investments Limited, TSM Global Logistics Limited and Jalieth Holding Nigeria Limited.
Distributed by AllAfrica Global Media. (allafrica.com)
Copyright 2006 Accra Mail. Distributed by Allafrica Global Media.
Related Tags: nacfa jorotom, nigeria limited, Jorotom, jorotom, limited, Limited
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