‘Oloture’ Mo Abudu reacts to Tobore Copyright allegations

Mo Abudu, CEO of EbonyLife Films, has kicked against the N2.5 billion allegedly demanded by Tobore Ovuorie, an investigative journalist, who accused her of copyright infringement with respect to ‘Oloture’, her 2020 movie. 

Ovuorie had claimed that Abudu’s film adapted 75 percent of her 2014 undercover investigation on sex trafficking. She also alleged that it was done without her express permission.

The media mogul, however, debunked the allegations in a 10-minute video shared on her Instagram page on Tuesday.

The 56-year-old former human resources management consultant said Tobore’s lawyers sent a letter to her a month after the film was released on Netflix demanding N2.5 billion in compensation.

Abudu also said she had earlier reached out to the publishers of Premium Times, Tobore’s employers as of when the story was filed, and obtained a go-ahead to make the film while out of moral obligation promising the reporter’s NGO a five per cent cut from its theatre run.

“Tobore wrote the article titled ‘Inside Nigeria’s Ruthless Human Trafficking Mafia’, which was published on August 12 2014 by the Premium Times, her employer at the time. Premium Times Services Limited, the publisher of Premium Times, has disclosed that she can’t lay claim to the investigative report that belongs to them,” she said.

“According to the Premium Times editor-in-chief, only the media company and their partner on that project, Zam Chronicles, can lay claim to the copyright of that report based on Nigeria’s copyright law. We sought and obtained the rights from Premium Times, the owners of the story. As such, we fulfilled our legal obligations.

“And do not take kindly to suggestions stating otherwise. There are several instances where we have acquired the rights to books, stories, and places such as ‘Queen Hunter’ ‘Death of the Kings Horsemen’, and ‘The Secret Lives of Baba Segi’s Wives’. This is how our industry works. We dare not make a film without acquiring rights.

“Although I have addressed our legal obligations, there were moral issues to be dealt with in a case like this. In May 2019, 20 months before the launch of ‘Oloture’ on Netflix, we reached out to Tobore to acknowledge her journalistic achievements, to recognise and encourage her in her ongoing campaign against sex trafficking and that of her NGO.

“We granted her a private screening of the movie; gave her a special mention at the end of ‘Oloture’. And I interviewed her on ‘Moments with Mo’. In addition, we wrote to her and offered her five percent of the proceeds from our plan to cinema-run. This is to go towards her NGO, which she acknowledged. We also reached out to other NGOs.

“This was to pledge proceeds from our cinema run as ‘Oloture was never created as a commercial film. We felt it was an important film to make and donors helped us to raise the money. Due to the covid-19 pandemic, the cinema release never happened. Instead, we decided to partner with Netflix, and the film was released on October 2, 2020.

“Within a few days (after release), Tobore went on social media making accusations. She wrote to Netflix, launched an attack against Kenneth Inyang, who never saw the script until we approached him to direct. A month after, we got a letter from Tobore’s lawyers alleging copyright infringement and demanding $5 million in compensation.”

Describing Tobore’s monetary demands as “extortionist and blackmailing” in nature, Abudu stated that she might resort to going to court if need be but said she remains open to settling the issue in an “appropriate conversation”.

“At this point, our in-house lawyer suggested that we needed to engage an external legal counsel, which we did. We knew we had not infringed on her copyright because Premium Times owned it. We did not have N2.5 billion to give. In order to understand what her demands were based on, our lawyers began meeting with hers,” Abudu added.

“That process stopped because her lawyers disengaged from her. Recently, Tobore started contacting out producers via WhatsApp and sending them horrid messages. To me, Tobore’s demands have become threatening, extortionist, and blackmailing in nature. If she felt she has a legal case, it could be best to come through the proper channels.

“A few days before the film was released on Netflix, I had sent her a text message: ‘Hi dear, it’s strictly on Netflix. No cinema due to covid. I promised you a cash gift towards your foundation and I will still make it happen even though we did not have a cinema release’. However, everything changed after the growing popularity of the film on Netflix.

“Oloture is a story inspired by true events and involving the work of scriptwriters, the development of characters and locations, situations, and occurrences that were created by our writers. Certain incidents in Oloture are similar to what happened to Tobore and this is why she was given credits. But it could never be her life story as claimed.

“So many women from around trafficked to Italy have similar stories. Please let’s educate ourselves. If there is one thing I stand for, it’s about integrity, working hard, and standing up for what I believe in. We’ve not exploited Tobore or anyone else and we will not be exploited. The facts are clear. We have everything in writing.

“And we’re prepared to defend ourselves against baseless attacks and legal challenges. We will not be intimidated because of the financial success of Oloture. However, our door is always open to having a conversation that is appropriate and right. Anything else will be refuted and rebuffed and, if necessary, settled in a court of law.”

Based in Lagos, ‘Oloture is the story of a young, naïve Nigerian journalist who goes undercover to expose the shady underworld of human trafficking.

On the other hand, Ovuorie’s investigation, which was published on Premium Times, exposed the syndicates that caused the death of Ifueko, her friend, who returned from sex work in Italy in 1999 with AIDS and died later.

 

The Cable

LAGOS POLICE GO TOUGH ON UNREGISTERED VEHICLES, COVERED NUMBER PLATE

The Lagos State Police Command has again directed its operatives to go after unregistered vehicles, vehicles with covered numbers plates, fake number plates and unauthorised use of siren in the state as the operstives of the Response Squad (RRS), a unit of the Lagos State Police Command, on Friday 8th January, 2021, impounded three (3) vehicles for covering their number plates and forty three (43) motorcycles for plying prohibited routes in Alausa Business District, Ikeja.

The Commissioner of Police, Lagos State, CP Hakeem Odumosu, had warned vehicle owners against these acts of illegality towards the end of year 2020 as a result of the intelligence gathered on the planned usage of these categories of vehicles and motorcycles for committing crimes in the state and beyond.

In compliance with the order, police operatives in the state have been on the prowl of violators who are fond of using unregistered vehicles, covered and fake number plates, unauthorised use of siren or revolving light etc with many of them prosecuted and fined accordingly.

The Commissioner of Police, CP Hakeem Odumosu, while reaffirming his zero tolerance for traffic offences and the like, ordered the Commander RRS, CSP Yinka Egbeyemi to intensify efforts in impounding any vehicles/bikes found wanting in this regard. CP Odumosu however expressed shock at the volume of vehicles violating these order in the state and motorcycles prowling Alausa Business District, which are prohibited routes for bikes.

During the sting operation organised by the command, which was commanded by CSP Yinka Egbeyemi, to kick against these offences, the command siezed the opportunity to advise Lagosians to desist from such illegality. The command also warned Governments workers, who encourage commercial motorcycle riders to flout the rules on prohibited routes to desist forthwith, pointing out that the squad had the directive of the Commissioner of Police to impound such bikes and prosecute both the riders and passengers.

The Commissioner of Police Lagos State has however ordered that the three (3) vehicles and 43 motorcycles impounded be transfered to Lagos State Taskforce on Environmental Offences without delay for prosecution.

In another development, the zeal of the command to curtail traffic robbery in Lagos State paid off as the RRS men on decoy operation along Ogudu/Alapere Expressway on Saturday 9th January, 2021, arrested two (2) suspected traffic robbers.

The suspects are Dada Owolabi,m, 52 and Kolawole Olawoye, m, 25. The suspects were arrested at diffrent incidences at about 10pm. The suspects are assisting the police to apprehend other fleeing members of their gangs.

The police chief in Lagos State, Hakeem Odumosu, has oredered that the suspects be transferred to State CID Panti, Yaba, for proper investigation.

AVOID NIGHT TRIPS,THEY ARE NOT ONLY UNSAFE, BUT UTTERLY DANGEROUS – OYEYEMI

Arising from the dangers, the risks and the rising cases of fatalities occasioned by road traffic crashes recorded at night, the Corps Marshal, Federal Road Safety Corps, Dr Boboye Oyeyemi has advised fleet operators, other commercial drivers and patronisers of night trips, including private vehicle owners to desist henceforth from it, emphasising that night trip which is often characterised by poor visibility, fatigue, sleeping on wheels, excessive speed among others is not only unsafe, but utterly dangerous.

According to Bisi Kazeem, the Corps Public Education Officer, Oyeyemi gave the warning while reacting to some reports of fatal crashes recorded at night at the beginning of the year, which led to the death of several road users and left others with different degrees of injuries.

The Corps Marshal while speaking extensively on why night trips should be avoided, lamented that on January 5, 2021 alone, an avoidable fatal crash occurred in Kabba, Kogi State where 2 vehicles were caught up in a head-on collision as a result of a combination of some factors revealed to be fatigue and sleeping on the steering.

The crash involved the driver of a white Toyota Hiace bus ( MSA 942 XA) that contravened COVID-19 protocols on physical distancing by overloading the bus with 18 passengers instead of the prescribed 8 passengers and a green Iveco trailer ( AKA 788 XC) carrying 07 passengers. Out of the 25 passengers on board the two vehicles, 08 were killed while 17 sustained various injuries.

Similarly, while maintaining that crashes that occur at night are more fatal than the ones that happen in the day time, Oyeyemi also lamented that just on January 9, 2021 2 vehicles; a white Sienna (KUG 538 BJ) and a Sharon bus without a number plate were involved in a fatal crash on Akwanga-Keffi road leaving the entire 17 passengers on board burnt beyond recognition.

Speaking further, the Corps Marshal disclosed that intelligence report reveals that most fleet operators and other vehicle owners, including private vehicle owners who are addicted to night journeys, do so for selfish economic gains, unnecessary overloading of vehicles with both passengers and goods and to avoid arrest and enforcement on physical distancing by FRSC patrol teams.

He warned that in as much as the Corps does not have the statutory powers to ban night trips, it has become very critical and a matter of urgency for patronisers of night trips to retrace their steps and plan their journeys in the day time because often times, when crash occurs away from FRSC rescue points, its difficult to access help from motorists at night.

In the same vein, while listing out the dangers associated with night travels, like poor visibility, fatigue, sleeping on wheels, dangerous driving, overloading, speeding among others, Oyeyemi also warned passengers whose journeys could wait for the next day to resist any temptation that could lead them into patronising fleet operators at night.

The Corps Marshal warned that these deaths are not only avoidable and preventable but totally unacceptable hence the need for all to take caution.

” On our part, the Corps will continue double its efforts by constantly engaging the motoring public nationwide, through aggressive awareness and sensitisation campaign, until the desired result is achieved” he added.

Chief of Army Staff Re assigns Officers For Enhanced Productivity

In the rekindled spirit of professionalism and enhanced productivity, the Nigerian Army has just released the postings and appointments of some affected senior officers.

The posting which was approved by the Chief of Army Staff Lt Gen TY Buratai is a routine/normal exercise intended to reinvigorate the system for greater performance and effectiveness.

The posting saw the redeployment of Major General FO Agugo from Headquarters Nigerian Army Signals Corps Apapa Lagos to Defence Headquareters Department of Communications as Chief of Defence Communications, Major General M Mohammed from Nigerian Army Resource Center Abuja to Pronto Tech Nigeria Limited and appointed Managing Director, Maj Gen AR Owolabi from Defence Headquarters Abuja (Department of Communications) to Headquarters Nigerian Army Signals Corps as Commander, Major General A Bande is to remain as General Officer Commanding 8 Division Sokoto, Major General E Akerejola from Army Headquarters Department of Logistics to Nigerian Army School of Supply and Transport, Benin as Commandant, Major General UM Mohammed to remain in the Office of the Chief of Army Staff as Special Adviser Nigerian Army University Biu and Vice Chairman Nigerian Army Property Limited, Abuja, Major General CV Eze from Office of the Chief of Army Staff ( Nigerian Army Special Projects) to Army Headquarters, Department of Army Logistics and appointed Director Engineering Services, Major General OF Azinta from Defence Space Agency, Abuja to Defence Headquarters as Director Psychological Warfare, Major General AM Dauda from National Defence College, Abuja to Army Headquarters Department of Policy and Plans and appointed Director Policy, Major General AL Dusu from Army Headquarters, Department of Policy and Plans to Nigerian Army School of Artillery, Kachia appointed Commandant and Major General H Ahmed from Headquarters Nigerian Army Corps of Military Police to remain as Provost Marshal (Army).

Others include, – Major General TA Gagariga from Nigerian Army School of Artillery, Kachia to Defence Space Agency, Abuja appointed as Deputy Chief of Defence Space Agency, Major General JO Iwara from Army Headquarters Department of Standard and Evaluation to Department of Army Logistics appointed Director of Logistics Planning, Major General PI Eze to remain at Headquarters Theatre Command Operation LAFIYA DOLE Maiduguri and appointed Theatre Logistics Component Commander, Major General OO Oluyede to remain in Sector 2 Operation LAFIYA DOLE, Damaturu as Commander, Major General BR Sinjen to remain in Army Headquarters Department of Training and Operations, Abuja as Director Operations, Major General R Abubakar to remain in Defence Headquarters as Defence Liaison Officer Ministry of Foreign Affairs, Abuja, Major General OO Soyele from Defence Hedquarters, Abuja to Nigerian Army Resource Center, Abuja as Senior Research Fellow, Major General AK Ibrahim to remain in Headquarters 7 Division/ Sector 1 Operation LAFIYA DOLE, Maiduguri as General Officer Commanding/Commander Sector 1 Operation LAFIYA DOLE, Major General SI Igbinomwanhia to remain in Sector 3 Operation LAFIYA DOLE, Monguno as Commander and Major General IM Jallo from Headquarters 63 Brigade, Asaba to Headquarters 6 Division, Port Harcourt appointed General Officer Commanding.

Similarly, Brigadier General AIM Lapai from 302 Artillery Regiment (General Support), Onitsha to Headquarters Nigerian Army Corps of Artillery, Kontogora appointed Director Field Defence, Brigadier General Kawugana from Warrant Officers’ Academy, Jaji to Hedquarters 9 Brigade, Ikeja Lagos appointed Commander, Brigadier General MO Jimoh from Defence Headquarters to Defence Space Agency, Abuja and appointed Deputy Director, Launch Vehicle Systems, Brigadier General MA Bolarinwa from Nigerian Army School of Supply and Transport Benin to Defence Headquarters(Annex), Lagos and appointed Deputy Director Supply, Brigadier General SM Uba to remain in 401 Special Forces’ Brigade as Commander, Brigadier General WM Dangana from Army War College Nigeria, Abuja to 3 Division Garrison, Jos appointed Commander, Brigadier General AGL Haruna to remain in 7 Division Garrison, Maiduguri as Commander, Brigadier General AM Garba from Headquarters Theatre Command Operation LAFIYA DOLE, Maiduguri to Headquarters 23 Brigade, Yola appointed Commander, Brigade General AG Laka from Army War College Nigeria, Abuja to Nigerian Army Operations Centre, Abuja and appointed Coordinator, Brigadier General IA Ajose from Training and Doctrine Command, Minna to 4 Special Forces Command, Doma as Chief of Staff, Brigadier General DK Zirkushu from Headquarters 1 Brigade, Gusau to Headquarters 28 Task Force Brigade, Chibok and appointed Commander.

Accordingly, Brigadier General M Ibrahim from Operation SAFE CORRIDOR, Gombe to 14 Brigade Ohafia appointed Commander, Brigadier General A Idris from Army Headquarters Department of Administration Army to Headquarters 63 Brigade, Asaba appointed Commander, Brigadier General RT Utsaha from 34 Brigade Garrison, Owerri to 32 Brigade, Akure and appointed Commander, Brigadier General MA Sadiq from Headquarters Operation DELTA SAFE, Yenagoa to Headquarters 4 Brigade, Benin and appointed Commander, Brigadier General IH Daniel from 304 Artillery Regiment Maiduguri to 34 Brigade Garrison Oweri as Commander, Brigadier General EO Ojabo from Defence Headquarters, Abuja to 81 Division Garrison, Lagos and appointed Commander, Brigadier General SS Tilawan to remain in Headquarters 5 Brigade as Commander.

Others are – Colonel FD Babatunde from Headquarters 81 Division, Lagos to Headquarters Operation SAFE HAVEN Jos appointed Sector Commander, Colonel OJ Majebi from Operation SAFE HAVEN, Jos to 31 Brigade Garrison, Minna appointed Commander, Col JC Mbanefo from Headquarters Nigerian Army Corps of Artillery to 301 Artillery Regiment (General Support) and appointed Commander, Colonel MA Maaji from Depot Nigerian Army Zaria to 4 Operation DELTA SAFE and appointed Commander amongst others.

All the postings and appointments take effect from the 18 of January 2021.

While wishing all the officers well in their respective appointments, the Chief of Army Staff enjoins them to take their new responsibilities/appointments seriously and discharge all duties professionally with utmost loyalty to the Nation and the Service.

AJAYI WINS THE 59TH FIRSTBANK LAGOS OPEN GOLF CHAMPIONSHIP

Mr. Tajudeen Ajayi, winner of the 59th FirstBank sponsored Lagos open golf championship receiving the award from Mr. Olusegun Alebiosu, Chief Risk Officer, FirstBank and representative of the Bank’s CEO at the prize presentation and award night of the 59th edition of the annual FirstBank sponsored golf tourney, recently held at the Ikoyi Club, Lagos.

Ikoyi Club based category-1 amateur golfer, Ajayi Tajudeen has emerge winner of the 59th edition of the FirstBank sponsored Lagos Open Golf Championship. Ajayi closed with 1-under par 70 for a total of 7-over the course par to win the Championship by two-shots after 56-holes.

Happy at the recently held golf tourney, Ajayi adduced his success to hard work, saying “I practiced a lot”.

“There is no short cut to success which is why I take the sport very seriously. I was well prepared for this tournament because I practiced a lot”, he said in a chat with newsmen shortly after being declared the Champion.

With his victory, Ajayi replaces Peter Eben-Spiff on the FirstBank Open winners list.

Playing 4-shots adrift going to the final round, Ajayi recorded bogey free 18-holes to steal the show ahead of overnight leader, Gabriel Ejembi who carded a closing 76 for 9-over the course par over 56-holes to beat clubmate Ejembi to the second position.

Coming in the third position was Tochukwu Emuwa at 14-over. Emuwa opened his game with 76, a second-round score of 75 and a closing 74 to duck in the third position.

Olusegun Emmanuel came fourth while Junior Champion; Osiregbeme Egbakhumeh completed the top five in the R&A and USGA sanctioned championship.

Satisfied with the outcome of the competition, Olusegun Alebiosu, the Chief Risk Officer of FirstBank, who represented the Bank’s Chief Executive Officer, reiterated the banks continuous support for the championship.

The competition was organised in full compliance with Federal Government Covid-19 protocols

FRSC records 10, 522 crashes nationwide in 2020

The Federal Road Safety Corps (FRSC), says no fewer than 10, 522 Road Traffic Crashes (RTCs) were recorded nationwide in 2020 involving 17,614 vehicles.

The Corps Public Education Officer (CPEO) Assistant Corps Marshal (ACM) Bisi Kazeem, disclosed this in an interview with the Newsmen on Thursday in Abuja.

Kazeem said 4, 794 persons were recorded dead and 28,449 persons got various degrees of injury within the period under review, while 29,808 had minor injuries and survived.

He said there was a decrease in the total number of people killed by road traffic crashes in 2020 when compared to 2019.

He added that In 2019, the Corps recorded 4, 878 deaths as against 4, 794 deaths in 2020 representing a decrease of 84 which was 1.75 per cent decrease.

According to him, the Corps recorded a total of 10,522 road traffic crashes involving 17,614 vehicles in the year 2020, as against 9, 957 involving 16,806 vehicles recorded in the previous year 2019.

“The total number of crashes increased in the year 2020 with a total of 565 crashes, representing 5.37 per cent increase.

“In 2020 alone, out of 63,581 people involved in RTC, a total of 4, 794 were killed, as against 4, 878 in 2019 representing 1.75 per cent decrease.

“28,449 got injured in 2020 against 32,344 in 2019 representing a decrease of 3, 895 or 13.69 per cent.

“While a total of 29,808 survived the crashes with injuries in 2020 against 32,499 in 2019 representing 6745 or 10.67 per cent decrease,” he said.

Kazeem said the major causes of these crashes as observed by the Corps was Speed-related Violations (SPV), which contributed above 62 per cent of the total crashes.

He added that dangerous driving, driving under the influence of alcohol, overloading, break failure, tyre burst, wrongful overtaking and route violation were also probable major causes of crashes.

“Bad road, road construction violation, dangerous overtaking, sleeping on steering, poor weather, use of phone while driving, sign light violation, fatigue among others caused the crashes, ” he added.

Kazeem said the Corps believed that a crash-free society was still possible only if all road users, including pedestrians ensured that all road traffic regulations were complied with accordingly.

He, however, warned that those who violated road traffic laws indiscriminately would definitely be penalised as the operatives were more than ever prepared and deployed to enforce compliance.

City Tasty Confectioneries pampers distributors and staff with new year gifts

The New year started on an amazing note for staff and distrubutors of fledgling bakery, City Tasty Confectioneries, as the management of the company doled many gifts to them, at the end of the year party of the company held days back, at the headquarters on Remi Olagunju drive, Aboru, Iyana Ipaja, on the outskirts of Lagos state.

It was a well-attended event, that attracted friends and distributors of the company; it was also an interactive session where distributors and customers laid bare complaints while the management threw light on many of their concerns.

The event, which was anchored by ace on air personality Yemi Sonde, climaxed with the presentations of gifts to many distributors, of the company for their loyalty to the company, since it started operation in April, 2019.

The grand price was Keke Marwa made for bread distribution was won by Ayeni Omowunmi for her diligence and loyalty to the company. Other gift were TV sets, Electrics Kettles, Standing fans, Washing Machines, Generators, and many more.

The grand gift was presented to the ecstatic winner by the Managing Director Mrs Olushola Kolade,along with Pastor Roland Oluwole and Dr Yomi Ogunmola, amongst the many dignitaries. In the vote of thanks,delivered by Taiwo Rosanwo,the company’s accountant,City Tasty Confectioneries,promised better gifts for the distributors, in the emerging year.

Ecobank Nigeria Launches Radio programme for SMEs

Ecobank Nigeria has launched a radio programme – “Ecobank Business Hour” targeted at empowering small and medium enterprises (SMEs) in the country.  Emeka Agada, Head, SME, Ecobank Nigeria, says the programme which is being syndicated across 10 radio stations in Nigeria is one of the several initiatives the bank is deploying to empower its SME customers with the right resources to thrive. He stated that the programme will also enlighten the public about the various solutions designed by the bank to help businesses.

He explained that the radio programme being produced by Royal Roots, one of Nigeria’s leading production companies, has already commenced and will be aired for an initial period of 13 weeks. He added that the rich content will help entrepreneurs and business managers to upskill and reskill for growth in the new digital landscape.  According to him, “This further underscore our unwavering commitment to supporting and sustaining the development of SMEs in all sectors of the economy. The radio programme promises to be an impactful series. I encourage all small business operators including their customers, friends and family members to set aside time to listen to the programme and get tips on how to grow their businesses.”

Also speaking, Greg Odutayo, Managing Director, Royal Roots, said the program will enable aspiring entrepreneurs understand how to set up and manage successful businesses.  He commended Ecobank for supporting a programme of this nature, capable of generating positive activities in the SME space.

The Business Ecobank Hour is being anchored by the duo of Greg Odutayo, a presenter, producer and director with over 28 years of professional experience and Helen Ese Emore, an international facilitator, seasoned MSME project development and business coach. The programme will run in 10 radio stations including, Inspiration 92.3FM, Lagos, RayPower 106.5FM, Kano, Odenigbo 99.1FM, Obosi, Liberty 91.7FM, Kaduna and PH Family Love 97.7FM, Port Harcourt and of others.  Some of the topics and issues lined up for the broadcast include- starting a new business, structuring your business and business planning, company registration, funding your business, creating markets for your products, taxes and taxation, digital payments and collections, how to obtain SONCAP and NAFDAC registration for all products and many other relevant topics, in addition to tips on how to access Ecobank’s bouquet of offerings for SMEs.

Only recently Ecobank Nigeria was named Among 2020 Customer Experience Leaders in Nigeria by Leading audit and professional services company, KPMG Nigeria. Specifically, the report stated that respondents were impressed with the interaction between Ecobank and its customers during the COVID-19 pandemic lockdown, stressing that the bank was able to provide personalized service to its respective customer segments.  KPMG’s Nigeria banking industry customer experience survey measures the performance of lenders in the country in terms of their relationship with their account holders and other users of financial services.

Blackstone, Bill Gates Plans $4.3b Bid for Signature Aviation

Bill Gates joined the battle for Signature Aviation Plc, allying with Blackstone Group Inc.’s $4.3 billion approach for the world’s biggest operator of private jet bases.

Gates’s Cascade Investment LLC, the No. 1 shareholder in Signature Aviation, and Blackstone are in advanced discussions with the London-based firm on a $5.17-a-share cash offer, they said Friday in a statement. Signature had said in December it would accept an approach from Blackstone if a firm offer were made at that level.

The involvement of Gates means Blackstone becomes the firm favorite to purchase Signature after Carlyle Group Inc. said Thursday it was also considering a potential offer. A third suitor, Global Infrastructure Partners, said in December that it was considering its options after its lower bid was rejected.

Shares of Signature were trading 4.8% lower as of 8:10 a.m. in London as prospects for a bidding war faded. The stock was priced at 397.90 pence, equivalent to $5.40, still above the offer mooted by Blackstone.

Private flying is one of the few travel sectors to have benefited from the coronavirus pandemic, offering the well-heeled the opportunity to continue traveling while minimizing potentially risky contact with other passengers.

Under the Blackstone plan, Microsoft Corp. founder Gates, who owns 19% of Signature, would contribute his shareholding and top it up with cash to become a 30% owner. Blackstone owns 70% of the bidding entity.

Signature, which changed its name from BBA Aviation last year, traces its origins to a Scottish industrial company founded in 1879. It’s had several names since and has focused on private aviation in recent years, selling parts distributor Ontic last year for $1.4 billion.

The company has also made several acquisitions, buying rival Landmark Aviation for $2.1 billion from Carlyle in 2016, and acquiring Epic Fuels for $88 million in 2018. Gates became an investor in 2009 and holds his stake through Cascade Investment LLC.

Signature had become a more likely takeover target since simplifying and selling its Ontic unit, according to Citi analyst Charles Mortimer.

Carlyle is working with Bank of America Corp. and Morgan Stanley on its approach, people familiar with the matter said, asking not to be identified because the information is private.

Signature confirmed the Carlyle approach and set Feb. 4 as a deadline for a firm offer. It set a Jan. 14 deadline for formal proposals from the Blackstone and GIP.

– Culled Bloomberg

Arsenal complete £540k Rekik signing

Arsenal have completed the signing of Omar Rekik from Hertha Berlin.

The 19-year-old will join the Gunners’ Under 23s side after penning a professional contract with the club.

Bild reports Arsenal have agreed to pay Hertha around £540,000 to land the centre-back, who had periods in the youth academies of FeyenoordPSVManchester City and Marseille before joining the German side.

Arsenal manager Mikel Arteta confirmed on Thursday that the defender’s arrival was all but complete, telling reporters at a press conference: “He’s a young talent that we’ve been following for a while that we believe has a really bright future.”

The Tunisia Under 21 international is yet to make his senior debut, having played regularly in the fourth-tier of German football with Hertha Berlin II this season, but he was an unused substitute in three Bundesliga matches last season.

“It feels great to be here after a long time of hard work. It feels great. I moved in three weeks ago and I’ve been in quarantine, so I can’t wait to get started,” Rekik told Arsenal’s website.

“The warmth of the people and the interest that they showed in me, and of course, when a club like Arsenal is interested, I don’t think anyone needs to think twice.

“I’m a winner. I always want to win, and that’s with everything, not only football, ever since I was a kid. My style of play? I’m a central defender and I like to play with the ball, I like to play out from the back, and I think this is also the structure of the club. It fits perfectly.”

Rekik says Arsenal’s playing style played a key role in his choosing to continue his career in north London.

“With Mikel Arteta, if you watch the games, he’s not a coach who thinks quickly to play a long ball. Of course, when needed, you have to do it, but I think the style of play fits,” he added.

“As a young player, you need to play somewhere where they’re not afraid to give you a chance and you can see a lot of youth players have broken through here, and I want to be the next one.”

Rekik, who is the north London side’s first signing of the January transfer window, was linked with a move to the English capital in the summer transfer window, but a move did not materialise.

The Gunners recently loaned out defender William Saliba, who has linked up with Nice for the rest of the season.

– Culled from Goal

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