Atiku Sells INTELS’ Shares For $100M

Atiku Sells INTELS’ Shares For $100M

Former Vice President, Atiku Abubakar, has sold his shares in Integrated Logistic Services (INTELS) Nigeria Limited for $100m.

Intels’ Spokesman, Tommaso Ruffinoni, made this known to THISDAY at the weekend.

According to Ruffinoni, the former Presidential Candidate of the Peoples Democratic Party (PDP) is no longer a shareholder of the country’s largest logistics company.

He disclosed that Atiku sold his shares to Orleal Investment Group, the parent company of Intels, for over $100 million in the deal that spanned two years.

According to the Intel’s Spokesman, Orleal Investment Group paid Atiku $60 million, $29 million $24.1 million in three installments.

Ruffinoni revealed that Atiku sold his shares in a series of transactions that began in December 2018 and concluded last year

He noted that Atiku had since left the company with his two sons, Adamu Atiku Abubakar and Aminu Atiku Abubakar in December 2020.