A pre-qualified company for the sale of Omotosho Generation Company,
\nBRESSON Consortium, led others at the weekend in the submission of bidding
\ndocuments further to the proposed sale of the plant by the Niger Delta
\nPower Holding Company (NDPHC).<\/p>\n
The bidding consortium, comprising of the Mr. Gbenga Olawepo led\u00a0 Bresson
\nA.S Nigeria Limited, also has as partners Engro Powergen Limited,
\nThomassen Holding Limited, Kappafrik Group, Mercados, Petrolog, and Sana
\nElias Group as Financial Advisors<\/p>\n
The bidding documents were submitted yesterday at the Nile Street, Maitama
\nheadquarters of the NDPHC in adherence to the specified technical and
\nfinancial suitability criteria, ahead of the evaluation processes of the
\nagency\u2019s experts.<\/p>\n
The Bresson Consortium is created for the purpose of the acquisition of
\n80% shareholding in Omotosho Generation Company Limited and raises
\nacquisition finance through Equity and Debt to acquire 80% of Omotosho,
\nwith the plan to achieve a debt to Equity ratio of 70:30 for the capital
\nstructure.<\/p>\n
According to the consortium, it intends to fund 30% of the required
\nacquisition funding through Cash Equity from BressCo Shareholders, in
\nconjunction with its Financial Advisors (Kappafrik Limited & Sana Elias
\nGroup) and Strategic Investors.<\/p>\n
Kappafrik Limited shall be responsible for creating the Fund Raising model
\nto fund the 30% equity of the bid based on the Risk-Reward assessment of
\nthe scenarios at any given time considering the probability of achieving
\ntheoretical potential value of the Assets on which BressCo is bidding. The
\nconcept is to propose a transparent pricing mechanism for the fund raising
\nbased on milestones as stipulated in the CPCS timeline guide, with a fixed
\nprice per share between milestones.<\/p>\n
The acquisition lending (70% debt) shall be provided via a syndicated loan
\nfacility comprising of Nigeria and Foreign lenders. One of such banks and
\npotential lead arranger is Ecobank who have already provided a letter of
\ncomfort to this effect.<\/p>\n
Bresson AS Nigeria Ltd is a privately owned Nigerian company headquartered
\nin Abuja, principally engaged in the business of acquiring, developing,
\nowning, and operating Independent Power Generating Facilities (IPGF). The
\ncompany was founded in April 2005. It has committed to its first 90 MW
\nSimple Cycle gas fired power plant at Magboro, Lagos corridor of Ogun
\nstate. The plant is configured on 2 GE LM6000 Turbines and scheduled for
\ncommissioning in November 2014.<\/p>\n
Its alliance partners Istro Energo Group of Slovakia, and equipment
\nsuppliers, General Electric of USA-are leading industry players with far
\nreaching global network and presence. The Company possesses an in-depth
\nunderstanding of the issues and challenges facing the stable and
\nsustainable development of electricity generation. Besides Mr. Olawepo,
\nother leaders of the consortium are Mr. Vincent Gueneau, Mr. Vincent O.
\nEbuh, and Ms. Barakat Balmelli<\/p>\n","protected":false},"excerpt":{"rendered":"
A pre-qualified company for the sale of Omotosho Generation Company, BRESSON Consortium, led others at the weekend in the submission of bidding documents further to the proposed sale of the…<\/p>\n","protected":false},"author":1,"featured_media":19140,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-19139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n