Barely two weeks after securing 750 million from the African ExportImport Bank Afreximbank to support its growth plans, Heirs Energies, one of Africas largest locally owned energy companies, led by Nigerian businessman Tony Elumelu, has acquired a 20.07 percent stake in Nigerias leading energy firm, Seplat Energy Plc, for nearly 500 million. The move marks one of the largest locally driven investments in Africas oil and gas sector in recent years.
The acquired stake, equivalent to 120.4 million ordinary shares, was previously held by French oil and gas producer Maurel Prom. The binding agreement, signed after market close on Tuesday, December 30, valued the shares at GBP3.05 4.09 each, placing the transaction at 496 million. The landmark deal reflects a broader shift in Africas energy sector, with more local players taking strategic positions in major assets.
Strategic investment backs long-term growth
