Elumelu’s Heirs Energies acquires 20% of French oil firm’s stake in Seplat As Largest Shareholder
Tony Elumelu via Heirs Energies, an indigenous integrated energy company, has acquired the entire 20.07 percent equity stake (120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc.
The deal was conducted at a price of GBP3.05 pence per share, valuing the transaction at $496 million, according to a statement on Wednesday.
The deal comes more than a week after Heirs Energy secured a loan of $750 million from Afreximbank.
