Heirs Energy Acquires $500M Stake in Seplat Energy, Transforming Nigerian Energy Landscape

Heirs Energy, led by Chairman Tony Elumelu, has purchased a $500 million stake in Seplat Energy, acquiring a 20.07% equity stake previously owned by French oil company Maurel & Prom. This move reflects a strategic shift in ownership structure within the Nigerian energy industry, aiming to deepen indigenous participation in critical energy assets across Africa.

The transaction was valued at 305 pence per share. Heirs Energy's acquisition aligns with their long-term strategy to support sustainable energy development.

The deal was backed by financial institutions like Afreximbank and AFC, highlighting the growing capacity of African financial institutions to support large-scale investments.