Heirs Energies has acquired the entire 20.07 per cent equity stake (120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc at a price of GBP3.05 pence per share, valuing the transaction at approximately $500 million.

The acquisition 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.

Commenting on the transaction, Tony Elumelu, Chairman of Heirs Energies, said the acquisition reflected the company’s strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources.

He described it as a long-term investment in Nigeria’s and Africa’s energy future.

“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.”

According to a statement by the company, the landmark achievement was supported by two leading African financial institutions—Afreximbank and AFC—further demonstrating Africa’s capacity to finance its own deals.

Heirs Energies Plc is one of the Africa’s leading indigenous integrated energy company.

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