Leading Nigerian energy company Seplat Energy Plc has announced that it has received official approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to proceed with the acquisition of Mobil Producing Nigeria Unlimited (MPNU).
The acquisition has been granted consent by the Honourable Minister of Petroleum Resources, President Bola Ahmed Tinubu GCFR.
Seplat Energy, which is listed on both the Nigerian Exchange and the London Stock Exchange, expressed its gratitude to President Tinubu for the approval and extended its appreciation to the Ministries and regulatory bodies involved in facilitating the transaction.
In a statement, Seplat Energy noted, “Seplat Energy sincerely thanks His Excellency, President Bola Ahmed Tinubu GCFR, for granting this approval, and appreciates the support and diligence of the various Ministries and regulators for all the work on this Transaction.”
The acquisition of the entire issued share capital of MPNU is a significant step for Seplat Energy as it expands its footprint in the Nigerian energy sector.
According to Seplat, further updates on the transaction will be provided as necessary, in accordance with regulatory requirements.
