• Home
  • About Us
  • Privacy Policy
  • Foreign News
  • Opinion
  • Photo News
  • Special Reports
  • Contact Us
Tuesday, September 26, 2023
  • Login
The Metro File
Advertisement
  • Home
  • Latest News
    • Law & Crime
    • Economy
    • Politics & Governance
    • Health
    • Tourism
    • Education
    • Celebrity
    • Sports
    • Entertainment
  • Special Reports
  • Features
  • Press Release
  • Opinion
  • Interviews
No Result
View All Result
  • Home
  • Latest News
    • Law & Crime
    • Economy
    • Politics & Governance
    • Health
    • Tourism
    • Education
    • Celebrity
    • Sports
    • Entertainment
  • Special Reports
  • Features
  • Press Release
  • Opinion
  • Interviews
No Result
View All Result
The Metro File
No Result
View All Result

Logistics giant, Intels, parts ways with Atiku

Metrofile by Metrofile
January 4, 2021
in Economy
0
Industrial Court stops maritime workers’ strike at INTELS

Nigeria’s leading oil and gas logistics company, Integrated Logistics Services Limited (Intels), has severed ties with one of its major shareholders, former Vice President Atiku Abubakar.

In a statement Monday, Intels spokesman, Tommaso Ruffinoni, said that Intels parted ways with Atiku and his family last year after he sold off his shares and exited the company.

Ruffinoni disclosed that Atiku, through his family trust, Guernsey Trust International, sold his shares in Intels’ parent company, Orlean-Invest Group, in a deal that lasted between December 2018 and January 2019, for approximately $60 million.

“In the period between April and May 2020, Mr. Atiku Abubakar converted his remaining shares into a convertible bond that he subsequently monetised up to a residual sum of approximately $29 million,” Ruffinoni said.

“When he requested to cash in the above mentioned sum, our Group contested to Mr. Atiku Abubakar a debt, towards our Group, of $24.1 million.

“Without having received any answer regarding the matter, on November 30th, 2020 Mr. Atiku Abubakar was informed about the set-off of such sum while we made available the remaining sum of $5.4 million.”

The statement added that “with the completion of the above mentioned transactions, the era of Mr. Atiku Abubakar family’s involvement with the Group, Orlean-Intels, is over.

“On December 1, 2020, our Group terminated also the working relationship with Mr. Atiku Abubakar’s sons, Mr. Adamu Atiku Abubakar and Mr. Aminu Atiku Abubakar, and since that date our Group do not have any contacts, neither direct nor indirect, with members of Mr. Atiku Abubakar’s family.”

Post Views: 258
Previous Post

Importers, agents task CCECC on seamless container movement at Apapa Port

Next Post

Badagry deep seaport strategic to developing Nigeria’s hub status

Next Post
NIMASA probes wellhead fire, warns mariners against impacted area

Badagry deep seaport strategic to developing Nigeria’s hub status

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Most Viewed Posts

  • Lagos State monthly IGR rises to N34bn (9,186)
  • HISTORY AND CULTURE OF THE KABBA PEOPLE (5,061)
  • I will never dump APC for PDP ― Kalu (2,471)
  • Ataisi Frank emerges RMF’s Personality of Week (2,436)
  • Wage bill: FG begins clean-up of civil servants payroll ―IPPIS (2,400)
  • About Us
  • Contact Us
  • Privacy Policy

© 2023 The Metro File - All rights reserved. Website deisgn by Lamark Inc..

No Result
View All Result
  • About Us
  • Contact Us
  • Home
  • Privacy Policy

© 2023 The Metro File - All rights reserved. Website deisgn by Lamark Inc..

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In