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Five bidders have so far paid $156.50 million to the Federal Government, being the mandatory 25 per cent of the bid value of the Power Holding Company of Nigeria (PHCN) Successor Companies they have indicated interest to acquire.
According to the Bureau of Public Enterprises (BPE) in a statement yesterday, the breakdown showed that Amperion Power Company Limited, the preferred bidder for Geregu Power Plc, has paid $33 million; Integrated Energy Distribution & Marketing Company, the preferred bidder for Ibadan and Yola Distribution Companies, paid $42.25 million and $14.75 million for Ibadan and Yola Discos respectively; NEDC/KEPCO, the preferred bidder for Ikeja Distribution Company, paid $32.75 million; and West Power & Gas, the preferred bidder for Eko Distribution Company, paid $33.75 million.
The statement, said this is coming ahead of the Thursday, March 21, 2013, deadline for all the bidders to make the mandatory 25 per cent payment in line with the Share Purchase Agreement for the transactions.
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