Heirs Energies Ltd has acquired the entire 20.07 % equity stake ( 120 .4 million ordinary shares) previously held by Maurel & Prom S.A in Seplat Energy Plc in a transaction valued at USD 496 Million.
In a statement made available to Crude Reports magazine by the Head,Group Corporate Communications of Heirs Energies Ltd,Chidimma Ugbojiaku said the acquisition marks a significant milestone in its long term strategy which further reinforces their commitment to building scale,resilience and sustainable value across Africa’s energy landscape.
The company noted that the transaction aligns with Heirs Energies strategic objective to deepen indigenous participation in critical energy assets and to strengthen Africa’s capacity to own,develop and responsibly manage it’s natural resources. It added that Seplat Energy has established a resilient,well governed operating platform with strong fundamentals and compelling long-term growth prospects which demands the need to support it’s continued value creation journey.
The landmark acquisition was supported by leading African Financial institutions, Afreximbank and Africa Finance Corporation( AFC,) which underscores the growing capacity of African capital to finance large scale strategic investments on the continent which also reflects confidence in Heirs Heirs Energies strategy, governance framework and disciplined approach to capital deployment.
Heirs Energies said the transaction is “a clear affirmation of our long-term vision to drive energy security, industrialisation and shared prosperity while operating with the highest standards of safety,governance and stakeholder responsibility”.
The statement made it clear that Heirs Energies remain committed to it’s Energies priorities which is to continue delivering reliable energy,protect long term value, deepen partnerships and execute responsibly across all aspects of it’s operations.
