Metallon sells stake in Lekoil


London UK , Sep 2 (Aberdeen Press & Journal) – Lekoil has reported the sale of Metallon’s stake in a filing. Metallon took control of Lekoil in a shareholder vote in January. The company has sold off its 15.1% stake as of August 31.

Lekoil is in dispute with its major subsidiary, Lekoil Nigeria, it confirmed on September 2.

Lekoil sacked its CEO and founder, Olalekan Akinyanmi, in June. The company reported it had taken the decision as a result of a “corporate governance breach”.

The company had previously reported Akinyanmi had not kept up payments on a loan owed to it.


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