Honeywell Group Limited has obtained a 14.12 percent interest in Ikeja Hotel Plc. This development was shared with the Nigerian Exchange Limited via a formal notification from Ikeja Hotel Plc, which was endorsed by OOT Nominees Limited on Thursday.
According to the public filing, HGL Real Estate Limited, an arm of Honeywell Group, purchased 305,323,525 shares, solidifying its 14.12 percent stake. While the specific financial terms of the deal were not released, market estimates suggest the transaction value reached approximately N13.2 billion based on Thursday’s closing stock prices.
Honeywell Group maintains a diverse portfolio covering energy, infrastructure, real estate, and services. The conglomerate serves as the parent firm for Barbican Capital, which previously held a significant stake in First HoldCo until Oba Otudeko divested his holdings amid a management dispute with current chairman Femi Otedola.
