Aradel Holdings to Acquire 81.67% Stake in ND Western in Expansion Deal

Aradel Holdings, through its subsidiary Aradel Energy Limited, has entered into an agreement to purchase a 40% equity interest in ND Western Limited, increasing its total shareholding in ND Western to 81.67%. ND Western currently holds a 45% participating interest in OML 34, a key oil mining lease in the Western Niger Delta.

The transaction is subject to regulatory approvals from the Nigerian Upstream Petroleum Regulatory Commission, FCCPC, and the Ministry. Adegbola Adesina, the Chief Financial Officer of Aradel Holdings, confirmed the deal.