Honeywell Group acquires 14 percent stake in Ikeja Hotel

Kiswahili

Honeywell Group Limited has acquired a 14.12 percent stake in Ikeja Hotel Plc, according to a statement sent to the Nigerian Exchange Limited.

The notification came from HGL Real Estate Limited, an affiliate of Honeywell Group Limited. It stated that the affiliate acquired 305,323,525 units of Ikeja Hotel Plc shares.

Ikeja Hotel Plc disclosed the development on Thursday in a statement signed by OOT Nominees Limited, the company secretary. The company did not reveal the transaction value.

The shares are estimated at N13.2 billion based on the share price at the close of trading on Thursday. Honeywell Group has investments across energy, real estate, services, and infrastructure sectors.

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