Heirs Energies, Africa’s leading indigenous integrated energy company, has disclosed its acquisition of the entire 20.07% equity stake (120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc (Seplat Energy) at a price of GBP3.05 pence per share, valuing the transaction at approximately US500 million.
The acquisition in a statement released by the company on Thursday, represents a further milestone in Heirs Energies’ long-term strategy to strengthen indigenous participation in strategic assets and accelerate sustainable energy development and security for Nigeria and Africa.
“This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources. It is a long-term investment in Nigeria’s and Africa’s energy future, and aligns with our mission to drive energy security, industrialization, 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”, Tony Elumelu, chairman of heirs Energies declared while commenting on the development.
This landmark achievement according to the statement is supported by two leading African financial institutions—Afreximbank and AFC—further demonstrating Africa’s capacity to finance its own deals.
