TEMPLARS Advises on Financing for Aradel Energy’s Acquisition of ND Western Stake

The acquisition increases Aradel’s shareholding of Aradel Holdings Plc in ND Western Limited to 81.67 percent, strengthening its leadership position as an indigenous integrated energy company. In addition, the acquisition increases Aradel Holdings Plc’s ownership in Renaissance Africa Energy Company Limited to 53.3 percent and further highlights its increased domestic contribution in the country’s energy industry.

TEMPLARS’ Partner, Zelda Akindele, who led the transaction, commented: “This transaction signposts the growing dominance of indigenous oil companies, and our clients continued confidence in Templars’ ability to handle high-value transactions efficiently on an expedited basis. Having advised Aradel on its listing on the Nigerian Stock Exchange last year and now the financing of this significant acquisition, we are proud to be a part of this growth story.”

TEMPLARS team was led by Partner, Zelda Akindele, with support from Senior Associate, Okabonye Chukwuani, and Associates, Olaotan Oyekan and Comfort Adeyemi.