Nigerian investor Tony Elumelu don increase him interest inside Seplat Energy. He buy another six million shares through one company wey he control. Di move happen months before he go become chairman of di oil and gas producer.
Heirs Energies purchase di shares for London on 30 September. Di price na £8.87 each. Dat one put di value of di new transaction at £53.22 million, wey be about $71 million. Di dollar amount na estimate, because dem report di transaction in pounds.
With dis purchase, di combined holding of Elumelu-controlled Heirs Energies and Heirs Holdings reach 126.4 million shares. Dat one represent 21.07% of Seplat’s voting rights. Di shares dey held through those companies, no be all of dem register for Elumelu personal name.
Elumelu join Seplat board in January. Dem schedule say he go become chairman on 1 January 2027. Di additional purchase don increase his companies’ financial exposure to Seplat before he take dat role.
Seplat na big name for African energy. Di company dey produce oil and gas for Nigeria, dey supply gas to di domestic market, and dem dey trade im shares for London and Lagos. So di new acquisition link one prominent African investor’s growing stake to di future leadership of one major Nigerian producer.
Seplat’s 30 September stock-market notification provide di share count, purchase price and di resulting 21.07% voting interest. E describe di buyer as Heirs Energies, one company wey Elumelu control.
Earlier in 2026, Elumelu-controlled companies acquire 20.07% interest in Seplat from French oil company Maurel & Prom. Di transaction value na around $496 million. Maurel & Prom disclose di earlier sale. Di latest six-million-share purchase lift dia reported voting interest by about one percentage point.
Seplat announce im leadership succession in June. Current chairman Udoma Udo Udoma intend to retire at di end of December. Elumelu go take over di following day. At di time, Elumelu talk say, “I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through Seplat Energy’s next phase of growth.”
