Aradel Holdings PLC Acquires 40% Stake in ND Western Limited, Boosting Nigerian Energy Sector Presence
Aradel Holdings PLC, an indigenous integrated energy company, has successfully acquired a 40% equity interest in ND Western Limited through its subsidiary, Aradel Energy Limited. This acquisition increases Aradel's shareholding in ND Western to 41.67%, making ND Western a subsidiary of Aradel Energy.
The deal is part of Aradel's strategic plan to consolidate assets, expand its portfolio, and create sustainable value in Nigeria's oil and gas industry. The transaction, led by Adegbit Falade, CEO of Aradel Holdings PLC, follows regulatory approvals and aims to boost operational efficiency and resilience.
ND Western holds a 45% participating interest in OML 34 in the Western Niger Delta region.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
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