TY Holdings Co Limited has rebranded BOC Gases Nigeria Plc several months after acquiring a 60-percent stake in the gas company.
TY Holdings is a privately-held investment holding company belonging to Nigerian businessman and philanthropist Theophilus Yakubu Danjuma. Its business interests cut across the maritime (through NAL-Comet Group) and oil and gas (through South Atlantic Petroleum Limited) sectors.
Meanwhile, BOC Gases is a subsidiary of the UK-based BOC Holdings Limited, an industrial and medical gas manufacturer.
The company is also involved in selling special gases, welding and medical equipment. It has a vast network of distributors and agents across Nigeria, where it has traded for more than 62 years.
Following an announcement on the Nigerian Exchange Group (NGX) by BOC Gases Nigeria CEO and Managing Director Ayodeji Oseni, the outfit became Industrial and Medical Gases Nigeria Plc.
“This is to notify Nigerian Exchange Limited, our shareholders and the investing public that BOC Gases Nigeria Plc has changed its name to Industrial and Medical Gases Nigeria Plc,” Oseni said.
The company has created a new logo and trademark, and obtained a new certificate of incorporation from the Corporate Affairs Commission.
Before the purchase, TY Holdings held a 12-percent stake in the company.
The deal brings the shareholding of the Danjuma-led organization to 72 percent, making it the gas business’ controlling shareholder. Following the transaction, the company’s ownership structure changed to reflect the new acquisition on Aug. 13.
