“Completion of the transaction is subject to the requisite regulatory approvals,” full statement the consortium consisting of ND Western Limited, Aradel Holdings Plc. the Petrolin Group, FIRST Exploration and Petroleum Development Company Limited and the Waltersmith Group, issued.
Renaissance Africa Energy has announced the acquisition of Shell’s entire shareholding in The Shell Petroleum Development Company of Nigeria Limited (SPDC).
“We are pleased to announce the signing of a landmark transaction with Shell to acquire its entire shareholding in The Shell Petroleum Development Company of Nigeria Limited (SPDC),” the company told Platforms Africa.
Renaissance is a consortium consisting of ND Western Limited, Aradel Holdings Plc. the Petrolin Group, FIRST Exploration and Petroleum Development Company Limited and the Waltersmith Group.
This acquisition, the consortium said in a statement, “marks a significant milestone for Renaissance, establishing its strategic position in the Nigerian market. We are committed to ensuring a smooth transition and look forward to leveraging our expertise, in partnership with SPDC’s industry-leading staff and working in partnership with all the stakeholders in the SPDC-JV to drive continued growth and success in Nigeria and beyond.”
Completion of the transaction is subject to the requisite regulatory approvals.
Platforms Africa
