Heirs Energy Acquires 20.07% Stake in Seplat Energy for $500 Million

Heirs Energy, led by Chairman Tony Elumelu, has acquired a 20.07% equity stake in Seplat Energy (NGX: SEPLAT) for $500 million, previously held by Maurel & Prom. This move is part of Heirs Energy's strategy to enhance indigenous participation in Nigeria's oil sector and promote sustainable energy development in Africa.

The acquisition signifies a milestone in the company's long-term vision to secure Nigeria and Africa's energy future. The transaction was supported by leading African financial institutions like Afreximbank and AFC, showcasing Africa's financial capacity to fund its own deals.