Transaction Summary
On December 11, 2024, Aradel Holdings Plc (Aradel) agreed to acquire a 5.14% equity stake in Chappal Energies Mauritius Limited (Chappal Energies), a Nigeria-focused energy firm that manages brownfield upstream investments across Africa. Aradel is a Nigerian fully integrated energy company that operates across the upstream, midstream, and downstream oil & gas sectors, as well as in power and renewables. The transaction aligns with Aradel’s plans to diversify its asset base and strengthen its gas portfolio and follows Chappal Energies’ recent $1.2 billion acquisition of Equinor Nigeria Energy Company Limited (ENEC) assets, including a 53.85% ownership stake in oil and gas lease OML 128, which contains a unitised 20.21% share of the Agbami oil field. Aradel, part-owned by Africa Capital Alliance (ACA), was listed by introduction on the Nigerian Exchange Group (NGX) in October 2024.
Terms
- Buyer: Aradel Holdings Plc
- Target: Chappal Energies Mauritius Limited
- Financing Type: Equity
- Investment Strategy: Growth
