{"id":8444,"date":"2016-09-20T15:12:51","date_gmt":"2016-09-20T14:12:51","guid":{"rendered":"http:\/\/nationalwire.com.ng\/?p=8444"},"modified":"2016-09-20T15:16:28","modified_gmt":"2016-09-20T14:16:28","slug":"oando-plc-signs-115-8m-midstream-agreement-with-helios-investment-partners","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/oando-plc-signs-115-8m-midstream-agreement-with-helios-investment-partners\/","title":{"rendered":"Oando PLC Signs $115.8m Midstream Agreement With Helios Investment Partners"},"content":{"rendered":"<p><a href=\"http:\/\/nationalwire.com.ng\/wp-content\/uploads\/2016\/09\/images.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-thumbnail wp-image-8445\" src=\"http:\/\/nationalwire.com.ng\/wp-content\/uploads\/2016\/09\/images-150x150.jpg\" alt=\"images\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p><strong>Oando PLC Signs $115.8m Midstream Agreement\u00a0<\/strong><strong style=\"line-height: 1.5;\">WzithHelios Investment Partners<\/strong><\/p>\n<p>Oando PLC has announced the execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners LLP (\u201cHelios\u201d), a premier Africa-focused private investment firm, to acquire 49% of the voting rights in Oando\u2019s midstream business subsidiary, Oando Gas and Power Limited (\u201cOGP\u201d).<\/p>\n<p>Oando is one of Nigeria\u2019s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange.<\/p>\n<p>According to a statement from the company, the agreed transaction consideration of US$ 115.8 million is conditional upon the receipt of revelatory approvals and subject to customary purchase price adjustments.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>Upon completion, Oando will retain 49% of the voting rights in OGP. The residual 2% will be held by a local entity. OGP is the pioneer developer of Nigeria\u2019s foremost natural gas distribution network and has subsequently grown to become the largest private sector gas distributor in Nigeria, delivering at peak, 70 million standard cubic feet per day (\u201cmmscf\/d\u201d) to over 175 industrial and commercial customers via its vast gas infrastructure network.<\/p>\n<p>With over 260km in pipeline infrastructure built, OGP provides unique energy solutions primarily through its subsidiaries: Gaslink Nigeria Limited (\u201cGaslink\u201d), Gas Network Services Limited (\u201cGNSL\u201d), and Central Horizon Gas Company (\u201cCHGC\u201d).<\/p>\n<p>Speaking about the agreement, Oando PLC Group Chief Executive, Adewale Tinubu said: \u201cThis strategic alliance will firmly leverage our local knowledge and expertise alongside Helios\u2019 strong financial capabilities. Through the optimization of our existing business operations and the expansion of our footprint, we will revolutionise the sector and position gas as a key driver for Nigeria\u2019s economic empowerment. We look forward to completing the transaction, which will create a formidable leader of gas and power solutions in sub-Saharan Africa.\u201d<\/p>\n<p>Co-founder and managing partner of Helios Investment Partners, Tope Lawani added: \u201cThis transaction is consistent with Helios\u2019 strategy of investing in businesses that provide cost-effective and reliable energy access solutions. We look forward to supporting OGP\u2019s continued growth and working with all stakeholders to improve the reliability of gas supply to the company\u2019s numerous industrial customers, who all play a critical role in the growth of the economy.\u2019\u2019<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Oando PLC Signs $115.8m Midstream Agreement\u00a0WzithHelios Investment Partners Oando PLC has announced the execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners LLP (\u201cHelios\u201d), a premier Africa-focused private investment firm, to acquire 49% of the voting rights in Oando\u2019s midstream business subsidiary, Oando Gas and Power Limited (\u201cOGP\u201d). &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[882,881],"coauthors":[2392,2393],"class_list":["post-8444","post","type-post","status-publish","format-standard","","category-business","category-news","tag-dogcumentst","tag-maritime"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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