Oando Signs $115.8mn Agreement With Helios - 9JAOlofofo | Nigeia #1 gossip site.


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Wednesday, 21 September 2016

Oando Signs $115.8mn Agreement With Helios

Oando Plc has signed a mid-stream agreement with Helios Investment Partners, a premier
Africa-focused private investment firm, to acquire 49 per cent of the voting rights in Oando’s mid-stream business subsidiary, Oando Gas and Power Limited.
Oando will still retain 49 per cent of voting rights in Oando Gas and Power Limited while the remaining two percent will be held by a local entity.
In a statement to the Nigerian Stock Exchange, the group explained that the agreed transaction consideration of 115.8 million dollars is conditional upon receipt of regulatory approvals and subject to customary purchase price adjustments.

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