Heirs Energies, led by Tony Elumelu, has acquired a 20% stake in Seplat Energy for $500 million, making it the largest shareholder in the company. This acquisition, supported by Afreximbank and Africa Finance Corporation, highlights Africa’s growing ability to finance its own major deals. The deal marks a shift in Seplat’s ownership, as Maurel & Prom, a founding shareholder, exits, selling its 20.07% stake for $496 million.
The acquisition includes a combination of an upfront payment of $248 million and contingent consideration based on Seplat’s future performance. Heirs Energies, a subsidiary of Heirs Holdings, is now well-positioned to leverage this acquisition to strengthen its energy portfolio and drive growth in Nigeria’s oil and gas sector. Tony Elumelu emphasized the strategic importance of this long-term investment, aimed at ensuring energy security and industrialization in Africa.
This move solidifies Heirs Energies’ position as a key player in Nigeria’s energy landscape, contributing to its growing influence in the regional market.
