Preline Limited Takes Over Eterna Plc, Eyes LPG Sector
By Abimbola Kintum
Nigeria’s indigenous integrated energy company, Eterna Plc, has stated its commitment to make solid investment in Liquefied Petroleum Gas (LPG).
The company also plans to grow its retail footprints in the country as part of its effort to provide energy solutions in efficient and innovative ways, while continuing the trajectory of its 5-year strategic plans.
The Company at its 29th Annual General Meeting, AGM, in Lagos, assured its shareholders of improving performance and returns on their investment in the years ahead.
The AGM is the first after the emergence of the new majority core investor, Preline Limited. Preline Limited acquired 60.98% stake in the Company, making it the largest and majority shareholder.
With the emergence of the new majority core investor, the board and management of Eterna Plc has assured shareholders that despite the global challenges faced by the industry, there is hope for growth and a better future outlook for the company.
Addressing shareholders at the AGM, Eterna Plc’s Chairman, Dr. Gabriel Ogbechie, noted that the company’s goal to be Africa’s preferred Energy Company while providing energy solutions that is efficient is still in full course.
“We will continue to focus on delivering value to our shareholders as we continue to drive the growth and profitability of our business,” Dr Ogbechie stated.