Heirs Energies has acquired the entire 20.07 per cent equity stake previously held by Maurel & Prom S.A. in Seplat Energy Plc.
The transaction was reportedly valued at $500 million at a price of GBP 3.05 pence per share, amounting to 120.4 million ordinary shares.
Pinnacle Daily reported that Heirs Energies recently secured a $750 million loan from Afreximbank.
Commenting, the Chairman of Heirs Energies, Tony Elumelu, said, “This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources.
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“It is a long-term investment in Nigeria’s and Africa’s energy future and aligns with our mission to drive energy security, industrialisation, and shared prosperity.
“Seplat Energy has built a resilient, well-governed platform with compelling long-term prospects, and we are pleased to support its continued growth and value creation for all stakeholders.”
An indigenous integrated energy company, Heirs Energies leads in the evolving energy landscape and contributes to a more prosperous Africa.
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It operates OML 17 in the Niger Delta, and the company debuted in 2021.
The landmark achievement was stated to have been supported by two leading African financial institutions—Afreximbank and AFC—further demonstrating Africa’s capacity to finance its own deals.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
