Heirs Energies, a Nigerian owned integrated energy company, has completed the acquisition of a 20.07 percent equity stake in Seplat Energy Plc, previously held by French oil and gas firm Maurel and Prom S.A., adding to a growing list of major corporate transactions shaping Nigeria’s economy, similar to recent developments covered in Nigeria’s business landscape.
The transaction involved the purchase of 120.4 million ordinary shares at a price of 3.05 pounds per share, placing the deal value at approximately 500 million dollars. The acquisition comes at a time when Nigerian companies are increasingly raising capital and executing large scale deals, following trends seen in GTCO’s ₦10 billion private share placement.
The deal was concluded shortly after Heirs Energies secured a 750 million dollar loan from Afreximbank, highlighting the growing role of African financial institutions in funding strategic investments, a shift that mirrors discussions around capital flows examined in Nigeria’s ongoing bank recapitalisation debate.
According to the company, the acquisition strengthens indigenous participation in strategic energy assets and supports long term energy security and sustainable development across Nigeria and Africa. These objectives align closely with broader economic reforms and policy changes, including concerns raised in the impact of new tax rules on businesses and workers.
Commenting on the transaction, Chairman of Heirs Energies, Tony Elumelu, described the acquisition as a long term investment in Nigeria’s and Africa’s energy future, reflecting confidence in Africa’s ability to own, develop, and responsibly manage its natural resources.
He also commended Seplat Energy for building a resilient and well governed company with strong long term growth prospects, adding that Heirs Energies is pleased to support Seplat’s continued expansion and value creation for stakeholders.
The transaction was supported by Afreximbank and Africa Finance Corporation, reinforcing Africa’s growing capacity to fund its own major deals and drive economic transformation, as frequently highlighted across TopSociety Nigeria’s coverage of the economy.
