Tony Elumelu, Chairman of Heirs Energies
…In 2025 Discipline Delivered, Value Protected, Work Continues
Heirs Energies, Africa’s leading indigenous integrated energy company, has acquired the entire 20.07% equity stake (120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc (Seplat Energy) at a price of GBP3.05 pence per share, valuing the transaction at approximately US500 million.
The acquisition represents a further milestone in Heirs Energies’ long-term strategy to strengthen indigenous participation in strategic assets and accelerate sustainable energy development and security for Nigeria and Africa.
Commenting on the transaction, Tony Elumelu, Chairman of Heirs Energies, said:
“This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources. It is a long-term investment in Nigeria’s and Africa’s energy future, and aligns with our mission to drive energy security, industrialization, and shared prosperity. Seplat Energy has built a resilient, well-governed platform with compelling long term prospects, and we are pleased to support its continued growth and value creation for all stakeholders.”
The transaction aligns with Heirs Energies’ strategic objective to deepen indigenous participation in critical energy assets and to strengthen Africa’s capacity to own, develop, and responsibly manage its natural resources. Seplat Energy has established a resilient, well-governed operating platform with strong fundamentals and compelling long-term growth prospects, and we are pleased to support its continued value creation journey.
This landmark acquisition was supported by leading African financial institutions, Afreximbank and Africa Finance Corporation (AFC), underscoring the growing capacity of African capital to finance large-scale, strategic investments on the continent. It reflects confidence in our strategy, our governance framework, and our disciplined approach to capital deployment.
For Heirs Energies, this transaction is a clear affirmation of its long-term vision to drive energy security, industrialisation, and shared prosperity, while operating with the highest standards of safety, governance, and stakeholder responsibility.
As the company looks ahead, its priorities remain clear: to continue delivering reliable energy, protect long-term value, deepen partnerships, and execute responsibly across all aspects of its operations.
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