business

Sustainable Capital Acquires 9.96% Stake in Seplat Energy

Published

1 month ago

January 30, 2025

Sustainable Capital Ltd, an investment firm based in Mauritius, has acquired a substantial 9.96% stake in Seplat Energy Plc, marking a significant change in the Nigerian oil and gas company’s shareholder structure.

This acquisition, confirmed on January 28 and reported to the Nigeria Exchange Limited on January 29, involves 58,580,800 voting rights, positioning Sustainable Capital as a key stakeholder with considerable influence in Seplat’s decision-making processes.

The notice filed on the Nigeria Exchange Limited highlighted that Sustainable Capital’s entire 9.96% stake was obtained through direct holdings in Seplat shares, without the use of financial instruments. Prior to this acquisition, Sustainable Capital held an 8.93% stake in Seplat Energy, and the latest purchase increased its holding by 1.03%.

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Seplat Energy Plc has also recently finalized the $1.28 billion acquisition of Mobil Producing Nigeria Unlimited from ExxonMobil, a milestone in the company’s growth strategy.

Temitope Aina Aina is a budding reporter with over a year of experience covering crime, court, and city news for Metro.