Aradel Holdings Plc mentioned its subsidiary, Aradel Power Restricted, has accomplished the acquisition of a further fairness curiosity in ND Western Restricted, following the fulfilment of all regulatory and contractual circumstances precedent.
The corporate, in an announcement on the Nigerian Change (NGX), introduced that the transaction, beforehand disclosed on October 24, 2025, concerned the acquisition of a 40 per cent fairness curiosity in NDW from Petrolin Buying and selling Restricted.
“With the completion of the transaction, Aradel Power Restricted’s shareholding curiosity in NDW elevated from 41.67 per cent to 81.67 per cent, and NDW has turn into a subsidiary of Aradel Power Restricted. The acquisition additionally leads to a fabric enhance in Aradel’s combination shareholding in Renaissance Africa Power Firm Restricted, growing its complete oblique possession within the firm from 33.3 per cent to 53.3 per cent.
“NDW holds a forty five per cent collaborating curiosity in OML 34, a producing Oil Mining Lease positioned within the Western Niger Delta and owns 50 per cent of the share capital of Renaissance Africa Power Holding Firm Restricted, the dad or mum firm of Renaissance Africa Power Firm Restricted, which operates the Renaissance Joint Enterprise,” it mentioned.
The assertion added that “this acquisition is in keeping with Aradel’s long-term technique of disciplined portfolio consolidation, asset base enlargement, and sustainable worth creation. It additional strengthens the Firm’s place inside Nigeria’s upstream oil and gasoline sector, enhances operational scale, and helps improved effectivity and resilience throughout the Firm’s asset portfolio.”
Talking on the transaction, the chief govt officer of Aradel Holdings, Adegbite Falade, acknowledged, “The completion of this acquisition represents an additional step within the execution of our development and consolidation technique.
Rising our fairness curiosity in ND Western reinforces Aradel’s place as a number one indigenous built-in power firm. It enhances our potential to drive long-term worth for shareholders via scale, operational effectivity, and portfolio optimisation.”
Aradel Holdings famous that “the transaction was accomplished following the receipt of all requisite regulatory approvals, together with approvals from the Nigerian Upstream Petroleum Regulatory Fee and the Federal Competitors & Shopper Safety Fee, and is in compliance with all different relevant regulatory, governance, and disclosure necessities.”
