Eagle Cement acquired the company after qualifying in the hands of the Technical Committee on Privatisation (TCOP) established by the conference of South-East governors following the introduction of the privatisation programme by the Federal Government, just as the shareholding structure of Nigercem after the privatisation in 2002 stood as follows: Eastern Bulkcem Company Limited with 60%, Ebonyi State Government 10% while other institutions and other Nigerians shared 30%.
According to a document signed by the Chairman, Board of Directors, Nze Maduako and made available to Vanguard yesterday in Abuja submitted its expression of interest and was subsequently pre-qualified to submit its final bid after a formal due process was carried out.
