Aradel Holdings, a subsidiary of Aradel Holdings Plc, the Nigerian energy group led by Adegbite Falade, has signed a definitive agreement to acquire an additional 40 percent equity stake in ND Western Limited from Petrolin Trading Ltd., deepening its investment in Nigerias upstream oil and gas sector.
The company already owns 41.67 percent of ND Western. Once the deal closes, Aradels total shareholding will rise to 81.67 percent, strengthening its control over one of Nigerias key independent oil producers.
Strengthening its upstream footprint