In a landmark transaction for Nigeria’s energy industry, Heirs Energies has become the largest single shareholder in Seplat Energy PLC after acquiring a 20.07% stake.
The deal, valued at approximately $496 million, involves Heirs Energies purchasing the entire shareholding previously held by the French oil and gas company Maurel & Prom (M&P). This move significantly boosts indigenous ownership within Nigeria’s vital energy sector, as Seplat is a leading independent energy firm listed on both the Nigerian and London stock exchanges.
Tony Elumelu, Chairman of Heirs Energies and Heirs Holdings, framed the acquisition as a decisive step toward African energy sovereignty. He emphasized the commitment to “Africapitalism”—a vision where African private capital leads in developing the continent's resources.
"For us, this is more than an investment; it's a commitment to indigenous participation and long-term value creation in Africa’s energy future," Elumelu stated.
On the selling side, Maurel & Prom’s CEO, Olivier de Langavant, described the sale as a strategic move to streamline the company’s portfolio and strengthen its financial position.
"We are pleased to hand over this significant stake to a respected group like Heirs Energies, which shares a deep commitment to the growth of Nigeria’s energy landscape," de Langavant said.
The transaction marks a major consolidation of local influence within one of Nigeria’s foremost energy companies.
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