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.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
Read full article
Continue on Business Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Aradel Holdings PLC to Acquire 40% Stake in ND Western from Petrolin, Boosting Presence in Nigeria's Oil and Gas Sector
Aradel Records 122% Net Income Growth, Hits N245.1 Billion in Nine Months
Dangote Refinery Open to NNPC Stake Increase, Plans Share Sale to Nigerians
Ellah Lakes Expands Operations with Acquisition and N235bn Public Offer
Ellah Lakes Plc Acquires ARPN to Boost Operations
Norrenberger Acquires 4.35% Stake in NASD Plc for N1.3 Billion
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
