Helios Investment Partners LLP (Helios) has bought a 49% stake in Oando Plcs Nigerias midstream business subsidiary, Oando Gas and Power Limited (OGP) for $115.8 million (N38 billion @US$=N330). After the completion of the deal, Oando will retain 49% of the voting rights in OGP. The residual 2% will be held by a local entity.
The agreed transaction value of US$ 115.8 million is based upon the receipt of regulatory approvals and subject to customary purchase price adjustments.
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