Helios to Invest US$115.8 Million in Oando Gas and Power (Sub-Saharan Africa)
Posted On: 20 Sep 2016 | Source: Helios Investment Partners
Africa-focused private investment firm Helios Investment Partners has agreed to acquire 49 percent of the voting rights in Oando Gas and Power (OGP), the midstream business subsidiary of Nigeria-based integrated oil and gas company Oando, for US$115.8 million. Upon completion of the deal, Oando will retain 49 percent of the voting rights in OGP. The residual two percent will be held by a local entity. The transaction is conditional upon the receipt of regulatory approvals and subject to customary purchase price adjustments.