Oando Plc has announced the execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners LLP (“Helios”), a premier Africa-focused private investment firm, to acquire 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and
Power Limited (“OGP”).
In a statement sent by Oando Plc to the Nigerian Stock Exchange(NSC),the company said “the agreed transaction consideration of $115.8 million is conditional upon the receipt of regulatory approvals and subject to customary purchase price adjustments.”
Upon completion, Oando will retain 49% of the voting rights in OGP. The residual 2% will be held by a local entity.

Says execution of definitive agreement with Helios Investment Partners LLP to acquire 49% of voting rights in Co’s Oando Gas And Power Limited (OGP)

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