Seplat says associated legal issues with the acquisition of Mobil Producing Nigeria Unlimited from ExxonMobil will be resolved.
Seplat initially announced the agreement to acquire MPNU from ExxonMobil in February 2022 – putting the completion of the transaction in the second half of last year. NNPC, with a 60 percent stake in MPNU assets, expressed the right of first refusal and also obtained a court order to block the acquisition.
Updating its shareholders and the capital market on Monday, Seplat said there is increasing confidence that President Bola Tinubu’s administration will approve the deal.
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