As the expiration of the deadline for the payment of the remaining 75 percent by the preferred bidders for the successor companies of the Power Holding Company of Nigeria (PHCN) draws nearer, investors who won the bids are in aggressives move to raise funds to meet the deadline, BusinessDay has learnt.
It was gathered that many of the investors are discussing with banks and financiers for the bankrolling of the balance of the bid price.
In what is an indication of what to expect in the coming days, the Africa Finance Corporation (AFC) has provided a $170 million debt financing facility in conjunction with Guaranty Trust Bank Plc, to the Mainstream Energy Solutions Limited consortium (MESL), for the acquisition of Kainji Power Plc, one of the generation companies (Gencos).
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