Nigeria’s 11 Plc bolsters its real estate portfolio with the acquisition of Lagos hotel from AMCON

NIGERIA – 11 Plc, formerly known as Mobil Oil Nigeria Plc, has finalised discussions with the Asset Management Company of Nigeria (AMCOM) to acquire the Lagos Continental Hotel. The company said in a statement filed at the Nigerian Stock Exchange on Monday that the acquisition was subject to terms and conditions between both parties. 11 Plc, which currently owns several prime properties in its real estate portfolio rented to blue-chip tenants, said it aimed to diversify its interests, given a challenging environment in the downstream sector of the petroleum industry.…

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