Clifford Chance Advises Heirs Holdings and Heirs Energies on US$500m Acquisition of 20.07% Stake in Seplat Energy

Global law firm Clifford Chance advised Heirs Holdings and Heirs Energies on acquiring a 20.07% shareholding in Seplat Energy Plc from Maurel & Prom.

The acquired shares were valued at approximately US$500 million. The acquisition represents a further milestone in Heirs Energies' long-term strategy to strengthen indigenous participation in strategic assets and accelerate sustainable energy development and security for Nigeria and Africa.

A cross-practice Clifford Chance team advised Heirs on aspects of the share purchase and financing arrangements. Africa Finance Corporation (AFC) and African Export-Import Bank (Afreximbank) provided financing for the deal.

The team was led by London partners Olamide Oladosu and Steven Fox, supported by associates Jack Foley and Eseosa Obasogie. Simon Thomas, London Head of Capital Markets, and Yuli Adagun, senior associate, provided capital markets advice.