Deal: AMCON To Take Over Tinapa

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The Asset Management Corporation of Nigeria is to take over the management of Tinapa Business Resort following a settlement agreement with the Cross River State Government for the transfer of its controlling interest.

By the agreement, AMCON is to buy back Tinapa’s debts totalling N18.5bn and provide N26bn for the revitalisation and resuscitation of the resort to reposition it as a private sector driven enterprise.

Source : Punch