Heirs Energy Acquires Maurel & Prom's Stake in Seplat Energy for $500M

Heirs Energy, led by Tony Elumelu, has acquired Maurel & Prom's 20.07% stake in Seplat Energy for $500 million. This deal involves the purchase of 120.4 million ordinary shares at $3.05 per share, marking one of the largest recent equity transactions in Nigeria's energy sector.

Heirs Energy aims to deepen indigenous participation in Africa's energy value chain and support sustainable energy development. The acquisition aligns with the company's long-term strategy and commitment to driving energy security and industrialization in Nigeria and Africa.

The transaction received support from African financial institutions like Afreximbank and AFC.