In what is set to rank as the business deal of 2021, despite coming so early in the year, Tony Elumelu’s Heirs Holdings, in partnership with Transnational Corporation of Nigeria Plc, has announced the “unconditional acquisition” of a 45 per cent participating interest in OML 17.
According to The Cable, the acquisition was made through TNOG Oil and Gas Limited.
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With the deal, TNOG also takes overall assets of Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and ENI in the oil block.
The acquisition also gives the Elumelu group sole operatorship of the asset.
Foremost pan-African global investor and philanthropist, Elumelu, who is chairman man of United Bank for Africa (UBA), also chairs the duo of Heirs Holdings and Transcorp
