OpeOluwani Akintayo
Lagos — Ardova Plc has completed total purchase of Enyo Retail and Supply Limited about eight months behind its initial target.
A statement by the Nigerian Exchange Limited on Wednesday said the sale completion automatically transfers the 90 filling stations and about 100,000 customers maintained by Enyo’s former owner to the Ardova Group.
The purchase comes barely two weeks after Rainoil announced purchase of 61 percent equity stake in Eterna Oil.
Ardova was previously owned by Femi Otedola under the name Forte Oil .
Majorly owned by Abdulwasiu Sowami, Ardova currently owns over 450 retail outlets.
Olumide Adeosun, Ardova CEO, had told CNBC Africa last week that Enyo will be run as a separate entity with Ardova as the parent company, although its consolidation is not yet in sight.
Follow us on twitter
