Lufthansa Commercial Holding Limited, a subsidary of Lufthansa Group has divested its shares in Nigeria Aviation Handling Company Plc (NAHCO), the Nigerian aviation support firm has said.
The unit of one of Germany's largest aviation firm had six percent holding in NAHCO before the divestment.
No reason was given for the company divestment from Nigeria, but according to a letter sent to the Nigerian Stock Exchange on Tuesday by NAHCO, a local firm Godssmart Nigeria Limited has since bought over the six percent Lufthansa's holding.
With the acquisition of 97.45 million ordinary shares in NAHCO divested by Lufthansa, Godsmart has now increased its shareholding to 26.95 percent.
Lufthansa Commercial Holding operates as a holding company and through its subsidiaries provides airline, logistics, catering and maintenance services for the aviation industry.
Lufthansa Commercial Holding encompasses diverse Lufthansa stakes in other business units that support and further Lufthansa's core business activities.
All of these units operate as profit centres. Lufthansa Commercial Holding's activities extend to transport, training, re-fuelling, infrastructure (real estate, property management and logistics), consulting/financing (largely aircraft leasing) and the travel agency/leisure travel sector (companies which are closely involved with Lufthansa's passenger business).
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