11 plc agreed to acquire 51% stake in Capital Hotels PLC (NGSE:CAPHOTEL from Hans Gremlin Nigeria Limited and others for NGN 5.5 billion on June 14, 2021. Under the terms, 11 plc will acquire 787.9 million shares at NGN 7 per share each. The Board also agreed that in order to balance the interest of Capital Hotels, Hans Gremlin Nig and 11 Plc the transaction could be structured with offer for sale and offer for subscription.

The transaction is subject to shareholder and regulatory approval.