SEPLAT Seeks to Clarify Media Reports on Lack of Ministerial Consent to Buy Mobil Producing Nigeria

By Sabela Ojea

SEPLAT Energy PLC said Thursday that it is seeking official clarification on media reports on the ministerial consent withdrawal of its proposed acquisition of Mobil Producing Nigeria UnLtd.

The Nigerian energy company said it hasn't received an official notification on the media-reported decision.

"We will continue to work with all parties to achieve a successful outcome to the proposed acquisition and will provide an update in due course," the London-listed company said.

Seplat Energy said Monday that it has received consent from Nigerian President Muhammadu Buhari for the acquisition of Exxon Mobil Corp.'s shallow water assets in Nigeria. In February, the London-listed energy company said it had agreed to buy the entire share capital of Mobil Producing Nigeria Unlimited for $1.28 billion plus up to a $300 million contingent consideration.

Shares at 1108 GMT were down 3.71 pence or 3.1%, at 118 pence.

Write to Sabela Ojea at [e-mail]; @sabelaojeaguix

(END) Dow Jones Newswires

August 11, 2022 07:42 ET (11:42 GMT)

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