SEPLAT Seeks to Clarify Media Reports on Lack of Ministerial Consent to Buy Mobil Producing Nigeria
August 11 2022 - 7:57AM
Dow Jones News
By Sabela Ojea
SEPLAT Energy PLC said Thursday that it is seeking official
clarification on media reports on the ministerial consent
withdrawal of its proposed acquisition of Mobil Producing Nigeria
UnLtd.
The Nigerian energy company said it hasn't received an official
notification on the media-reported decision.
"We will continue to work with all parties to achieve a
successful outcome to the proposed acquisition and will provide an
update in due course," the London-listed company said.
Seplat Energy said Monday that it has received consent from
Nigerian President Muhammadu Buhari for the acquisition of Exxon
Mobil Corp.'s shallow water assets in Nigeria. In February, the
London-listed energy company said it had agreed to buy the entire
share capital of Mobil Producing Nigeria Unlimited for $1.28
billion plus up to a $300 million contingent consideration.
Shares at 1108 GMT were down 3.71 pence or 3.1%, at 118
pence.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
August 11, 2022 07:42 ET (11:42 GMT)
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