Heirs Energies Limited, one of Africa’s leading indigenous integrated energy companies, has acquired the entire 20.07% equity stake in Seplat Energy Plc previously held by Maurel & Prom S.A., in a transaction valued at approximately US$500 million.
The purchase, representing 120.4 million ordinary shares, was completed at a price of GBP 3.05 pence per share, further consolidating Heirs Energies’ commitment to increasing local participation in strategic energy assets.
Tony Elumelu, Chairman of Heirs Energies, said the acquisition is a long-term investment in Nigeria’s and Africa’s energy future.
“This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources. Seplat Energy has built a resilient, well-governed platform with compelling long-term prospects, and we are pleased to support its continued growth and value creation for all stakeholders,” Elumelu added.
He noted that the move aligns with the company’s mission to drive energy security, industrialization, and shared prosperity across the continent.
The deal was supported by two leading African financial institutions—Afreximbank and the African Finance Corporation (AFC)—underscoring the continent’s growing capacity to fund its own strategic transactions.
This milestone is part of Heirs Energies’ broader strategy to strengthen indigenous ownership and accelerate sustainable energy development and security in Nigeria and across Africa.