Oando Plc - Oando Plc Completes $115.8 Million Gas And Power Partial Divestment To Helios Investment PartnersRelease Date: 20/12/2016 12:33:00 Code(s): OAO
(Incorporated in Nigeria and registered as an external company in South Africa)
Registration number: RC 6474
(External company registration number 2005/038824/10)
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
(?Oando? or the ?Company?)
Oando PLC Completes $115.8 Million Gas and Power Partial Divestment to Helios Investment
(Lagos, Nigeria) ? Oando PLC (referred to as ?Oando? or the ?Group?), Nigeria's leading indigenous
energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced the
completion of a partial divestment of 49% of the voting rights in Oando's midstream business
subsidiary, Oando Gas and Power Limited (?OGP?), to Glover Gas & Power B.V., a special purpose
vehicle owned by Helios Investment Partners LLP (?Helios?), a premier
Africa-focused private investment firm.
Commenting on the completion of the transaction, Oando PLC's Group Chief Executive, Jubril
Adewale Tinubu said: ?The commencement of this strategic partnership underlines Oando's status as
the indigenous partner of choice for international firms in our industry, while also acknowledging the
Group's unwavering commitment to improving access to gas and power solutions for industries,
consumers and commercial counterparties in the sub-region. This partnership will firmly leverage
OGP's local knowledge and expertise, alongside Helios's global network and financial capabilities to
optimise our existing operations and expand our footprint.?
Co-founder and Managing Partner of Helios Investment Partners, Tope Lawani added: ?The
completion of this transaction underscores Helios' commitment to investing in businesses that deliver
energy access solutions to industries and consumers across the continent. We look forward to
working closely with the OGP management team and other industry stakeholders to consolidate the
company's position as a premier provider of cost-effective and reliable gas and power infrastructure.?
OGP is the pioneer developer of Nigeria's foremost natural gas distribution network and has
subsequently grown to become the largest private sector gas distributor in Nigeria, delivering at peak,
70 million standard cubic feet per day (?mmscf/d?) to over 175 industrial and commercial customers
via a vast network of gas infrastructure.
With over 260km in pipeline infrastructure built, OGP provides unique energy solutions primarily
through its subsidiaries: Gaslink Nigeria Limited (?Gaslink?), Gas Network Services Limited (?GNSL?),
and Central Horizon Gas Company (?CHGC?).
In May, OGP announced the development of a revolutionary mini Liquefied Natural Gas (LNG) facility
via its newly-created Transit Gas Nigeria Limited (?TGNL?) subsidiary in Ajaokuta, Kogi
State. The pioneering 20 mmscf/day liquefaction plant will aim to fulfill the gas supply requirements for
captive power plants, embedded generation, and industrial clusters in the Northern region, as well as
stranded customers in the South.
For further information, please contact:
Ainojie "Alex" Irune
Head, Corporate Communications
2 Ajose Adeogun Street, Victoria Island,
Email: email@example.comNig Tel: +234 (1) 2702400 Ext 6270
20 December 2016
Sponsor: Sasfin Capital (a division of Sasfin Bank Limited)
Date: 20/12/2016 12:33:00 Supplied by www.sharenet.co.za
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