By Modupe Gbadeyanka
The management of Newrest ASL Nigeria Plc, formerly Airline Services & Logistics Plc, has announced divesting its entire stake in ASL Rwanda Limited.
In a notice to the Nigerian Stock Exchange (NSE) last Friday, the firm said it no longer has any stake in the Rwandan firm.
Newrest ASL Nigeria is a company offering catering and hospitality services to international airlines and airports in the country.
Before now, ASL Rwanda Limited was one of the three subsidiaries of Newrest ASL Nigeria Plc, but with the latest development, the Rwandan company is no longer part of the Nigerian firm.
“The Board of Directors of Newrest ASL Nigeria Plc hereby informs its esteemed shareholders and other stakeholders that it has disposed of its entire interest in ASL Rwanda Limited.
“Prior to the disposal, ASL Rwanda Limited was one of the company’s three subsidiaries and has consequently ceased to be a subsidiary of the company following the sale of the company’s shares held in ASL Rwanda Limited,” a statement by the company said.
However, Newrest ASL Nigeria assured its shareholders that, “In furtherance of the strategic objective of the company, the board of directors will continue to seek opportunities for investment in the long term interest of its stakeholders.”
more recommended stories
TSA Transactions Increase by 27.01% to N13.5tr
By Dipo Olowookere Transactions valued at.
CBN Woos Foreign Investors to Stimulate Economic Growth
By Dipo Olowookere Governor of the.
NASD Shows Commitment to Growth of SMEs in Nigeria
By Dipo Olowookere Recently, reputable business.
Investors Trade 983m Financial Stocks Worth N9.4b in 5 Days
By Dipo Olowookere A total turnover.