Sustainable Capital acquires 9.96% stake in Seplat Energy
Sustainable Capital Ltd, a Mauritius-based investment firm, has acquired a significant 9.96 per cent stake in Seplat Energy Plc, crossing a key threshold for the acquisition of voting rights in the Nigerian oil and gas company.
In a notice filed on the Nigeria Exchange Limited on Wednesday, the acquisition, which was confirmed on January 28, was officially reported to the NGX on January 29, marking a shift in Seplat Energy’s shareholder structure.
The acquisition of 58,580,800 voting rights positions Sustainable Capital as one of Seplat’s key stakeholders, with the firm now holding an influence in the company’s decision-making processes.
According to the notification, Sustainable Capital did not acquire any voting rights through financial instruments, as its entire 9.96 per cent stake was obtained through direct holdings in Seplat shares.
Before this acquisition, Sustainable Capital held an 8.93 per cent stake in Seplat Energy, as indicated in the previous notification. The firm’s latest purchase increased its holding by 1.03 per cent.
The PUNCH reported that Seplat Energy Plc has finalised the $1.28bn acquisition of Mobil Producing Nigeria Unlimited from ExxonMobil, marking a milestone in the company’s growth strategy.
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