Heirs Energies has pulled off a major $500 million acquisition, buying the entire 20.07 per cent equity stake that was held by French oil company Maurel & Prom S.A. in Seplat Energy Plc.
The deal covers 120.4 million ordinary shares and was executed at 305 pence per share, marking one of the biggest recent indigenous takeovers in Nigeria’s oil and gas sector.
The blockbuster transaction comes barely days after Heirs Energies secured a massive $750 million loan from Afreximbank, signaling an aggressive expansion push by the indigenous energy giant.
“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,” the company said in a statement on Wednesday.
Commenting on the deal, Chairman of Heirs Energies, Tony Elumelu, said it reflects a growing confidence in Africa’s capacity to own and 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,” Elumelu said.
“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.”
The transaction was financed by two major African financial institutions, Afreximbank and the Africa Finance Corporation (AFC), underscoring Africa’s rising ability to fund and execute high-value energy deals without relying on foreign capital.
