News Formal

Afreximbank provides $650m funding for Oando’s acquisition of Nigerian Agip Oil Company

  • 📰 DailyPostNGR
  • ⏱ Reading Time:
  • 15 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 59%

Afreximbank Nyheter

Nigerian Agip Oil Company

The African Export-Import Bank has said that it provided $650m funding for Oando’s acquisition of the 100 percent stake in the Nigerian Agip Oil Company Limited. The Continental Bank disclosed this in a statement on Friday.

The bank noted that it successfully arranged a senior $500 million and a junior $150 million reserve-based lending facility for Oando Petroleum and Natural Gas Company Limited, which made the NAOC possible. The facility was used to finance Oando’s acquisition of the 20 percent participating interest held by Nigerian Agip Oil Company Limited in the NEPL/NAOC/Oando Joint Venture in Nigeria.

Recall that Oando announced the completion of the acquisition on Thursday saying, “Today marks a historic milestone for Oando Plc as we proudly announce the completion of our agreement with Eni for the acquisition of 100 percent shares of Nigerian Agip Oil Company Limited'.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 11. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Oando Plc completes $783m acquisition of Eni’s subsidiary, Nigerian Agip Oil CompanyThis acquisition is a significant milestone in Oando's long-term strategy to expand its upstream operations and strengthen its position in the Nigerian oil and gas sector
Källa: PremiumTimesng - 🏆 3. / 78 Läs mer »

Oando completes $783 million purchase of Nigerian Agip Oil CompanyOando, which is listed in Lagos as well as in Johannesburg, considers the acquisition as a cornerstone of its long-term strategy to scale its upstream operations and beef up its position in the Nigerian oil & gas industry.
Källa: PremiumTimesng - 🏆 3. / 78 Läs mer »

Afreximbank: We provided $650m loan for Oando’s acquisition of NAOCAfreximbank says it arranged a senior $500 million and a junior $150 million reserve-based lending facility for Oando.
Källa: thecableng - 🏆 2. / 80 Läs mer »

Oando completes $783 million Agip acquisition dealOando PLC has announced the successful acquisition of Eni’s Nigerian subsidiary, Nigerian Agip Oil Company (NAOC).
Källa: GuardianNigeria - 🏆 1. / 94 Läs mer »

Oando completes 100% acquisition of NAOC for $783mOando Plc has completed the acquisition of 100 per cent shareholding interest in the Nigerian Agip Oil Company (NAOC) from
Källa: GuardianNigeria - 🏆 1. / 94 Läs mer »