Oando PLC has successfully completed its acquisition of the Nigerian Agip Oil Company (NAOC) from Italian energy giant Eni for a total consideration of $783 million.
Oando Plc, Nigeria’s leading Indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange had announced that Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), for the sale of 100 percent of the shares of Nigerian Agip Oil Company (NAOC) (Acquisition).
Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of NAOC Ltd to Oando Plc.