11 Plc set to acquire controlling stake in hospitality company Capital Hotel Plc

NIGERIA – Capital Hotel Plc, owners of Sheraton Abuja Hotel, is set to sell 51 per cent stake in the company to 11 Plc, formerly Mobil Oil Nigeria Plc. In a notification to the Nigerian Exchange (NGX) Limited, the board of Capital Hotel Plc said the decision sell the 51per cent stake to 11 Plc was reached at the emergency meeting of its board held on June 14, 2021. The move is in line with 11 Plc’s expansion drive into hospitality industry which it began in 2019 by acquiring Lagos…

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