NATIONAL COUNCIL ON PRIVATIZATION | NaijaContract

NATIONAL COUNCIL ON PRIVATIZATION | NaijaContract

FEDERAL REPUBLIC OF NIGERIA
NATIONAL COUNCIL ON PRIVATIZATION
INVITATION FOR EXPRESSION OF INTEREST FOR CORE INVESTOR SALE OF YOLA ELECTRICITY DISTRIBUTION COMPANY (YOLA DISCO)
1. The Federal Government of Nigeria (FGN), through the National Council on Privatization (NCP) has approved the privatization of Yola Electricity Distribution Company (“Yola Disco”) via Competitive Bidding to be managed by the Bureau of Public Procurement Enterprises (“BPE”).
2. At 31 December 2017, Yola Disco supplied grid power to over 181,000 customers across 4 State in Nigeria. Yola Disco also has 3,454 sub stations; 9 transmission stations, 33.33KV circuits covering 6,590 kilometers and 112 11KV circuits covering 1,385 kilometers.
3. The NCP/BPE, on behalf of the FGN, hereby invites prospective core investors to express interest in acquiring FGN’s 60% shareholding in “Yola Disco”.

4. Potential bidders should be existing power distribution companies or core investor groups with power distribution companies as equity investors.
5. Successful bidder will be responsible for operating the Yola Electricity Distribution Company, make all necessary investments to improve the distribution network and customer service in line with the objective of the Federal Government of Nigeria set out in the National Power Policy, 2001 (NEPP).
6. Method of Application – Expression of Interest from potential bidders should provide the following as basis of selection:
• Full name of company and contact person, postal address, telephone /fax numbers, and e-mail addresses;
• Strategic rationale for the acquisition of Yola Disco;
• Description of acquiring entity or vehicle with evidence of registration with Corporate Affairs Commission by submission of Certificate of Incorporation including Forms CAC2 and CAC7 or CAC Form 1.1;
• Evidence of current Pension Compliance Certificate (2018);
• Evidence of current Industrial Training Fund (ITF) Compliance Certificate (2018);
• Evidence of current Nigeria Social Insurance Trust Fund (NSITF) Compliance Certificate (2018);
• Ownership structure of company: name(s) of major shareholders with 5% or more stake;
• Audited Financial Statements of members of core investor groups for the past three (3) years – 2015, 2016 & 2017 and most recent management account.
• Any relevant information that demonstrates credibility and eligibility of the buyer for the transaction;
• In case of consortium, kindly provide evidence of alliance, partnership/point venture between members in the consortium; clearly indicating the lead number authorized to submit the EOI.
7. Technical and operational capabilities:
• Years of experience in power distribution, highlighting the number of customer served, length of networks, etc.;
• Evidence of operating/owning similar distribution networks with qualified professionals who possess relevant operating experience; and
• Evidence of a strong balance sheet and demonstration of a good financial track record that could support adequate investments in the network.
8. Upon receipt of Expressions of Interest for interested investors, the BPE shall evaluate and pre-qualify applicants.
9. Thereafter, pre-qualified bidders will be issued a Request for Proposal (RFP) and other bidding documents upon the payment of a non-refundable fee of Twenty Thousand United States Dollars ($20,000) in bank draft payable to the Bureau of Public Enterprises.
10. Please note the following:
• The name of the prospective bidder must be stated on the envelope;
• Submissions made by e-mail/late submission will be rejected; and
• Only shortlisted firms shall be contacted.
11. An original and five (5) other copies of Expressions of Interest shall be delivered in a sealed envelope clearly marked “EOI YOLA DISCO Transaction” at the top right hand corner and delivered to the address below not later than 12th September, 2018 by 1:00pm Local time. Kindly note that bids will be opened immediately by the Evaluation Committee.
Mr. Alex A. Okoh
Director General
Bureau of Public Enterprise (BPE)
11 Osun Crescent, Off IBB Way
Maitama, Abuja-Nigeria,
Tel: 234-9-4604477
E-mail: [email protected]
Attention: Mr. Yunana Malo
Director, Energy Department
Tel: 234-9-4604477
E-mail: [email protected]
For further clarification or enquiries, contact:
Mr. Albert Mould-Shalom
Energy Department
[email protected]
Tel: 234-9-4604414
Or the Transaction Advisers, FBNQuest Consortium
E-mail: [email protected]
DISCLAIMER
This Invitation for Expression of Interest does not in any manner constitute an agreement, and is neither an offer nor an invitation by the FGN to the prospective applicants or any other person. Each prospective applicant shall bear all costs associated with and in relation to its application and the FGN shall not be liable in any manner for any costs or expenses incurred by an applicant in preparation or submission of an application, regardless of the conduct or outcome of the bidding process.
SOURCE: THE GUARDIAN
 



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