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Newrest ASL Nigeria Sells Off Stake in ASL Rwanda Ltd

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.

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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.

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“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.”

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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