It’s a big way to end the year for Heirs Energies after acquiring 20% of Seplat for $500 million. Heirs is one of the biggest energy companies in Nigeria and holds a huge equity in Seplat.
The company owned by business mogul, Tony Elumelu acquired 120.4 million shares in Seplat which is equivalent to 20.07% equity.
The equity stake previously belonged to Maurel & Prom S.A. in Seplat Energy Plc. It was sold at GBP3.05 pence per share. Totaling $500 million in exchange for 20.07% equity stake in the oil company.
This is a milestone for Heirs Energies as a company passionate about providing sustainable energy for Africa.
Here is what Tony Elumelu, chairman of Heirs Energies, said:
“This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources. It is a long-term investment in Nigeria’s and Africa’s energy future. And aligns with our mission to drive energy security, industrialization, and shared prosperity. Seplat Energy has built a resilient, well-governed platform with compelling long term prospects. Snd we are pleased to support its continued growth and value creation for all stakeholders.”
It is noteworthy that this landmark acquisition by Heirs Energies was supported by two prominent financial institutions which are: Afrexim Bank and AFC. This reinforces Africa’ commitment to supporting large scale companies with finance. It is a big way to end the year 2026 for the company.