Heirs Energies, Africa’s indigenous integrated energy company, is strengthening its investment in the country oil industry with the acquisition of the entire 20.07% equity stake (120.4 million ordinary shares) earlier held by Maurel & Prom S.A. in Seplat Energy Plc (Seplat Energy)at the value of US500 million.
Tony Elumelu, Chairman of Heirs Energies, explained that the acquisition represents a further milestone in the company’s long-term strategy to strengthen indigenous participation in strategic assets and accelerate sustainable energy development and security for Nigeria and Africa.
He said: “This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly 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. 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.”
He disclosed that the acquisition was boosted by two leading African financial institutions—Afreximbank and AFC—further demonstrating Africa’s capacity to finance its own deals.
