By Eyo Nsima
Seplat Energy, a leading Nigerian energy company listed on the Nigerian Exchange and the London Stock Exchange, said it has not yet been informed about the withdrawal of Ministerial Consent by President Muhammadu Buhari over Mobil Producing Nigeria Unlimited, MPNU $1.3 billion oil deal.
“Seplat Energy has received no official notification of such a decision and is seeking clarification from the relevant authorities. We will continue to work with all parties to achieve a successful outcome to the proposed acquisition and will provide an update in due course.”
Seplat Energy had earlier agreed to acquire the entire share capital of MPNU at the cost of $1.3 billion plus up to $300 million contingent consideration, but the Nigerian National Petroleum Company Limited had disagreed, saying it should be granted the right of first refusal to procure the same assets.
