Seplat Energy says it has extended the share sale and purchase agreement for the acquisition of ExxonMobil’s share capital of Mobil Producing Nigeria Unlimited .an agreement to acquire ExxonMobil’s 40 percent stake in MPNU — with the expectation that the transaction will be closed in the second half of the year.A year later, Brown said the SSPA has been extended again to ensure that certain legal proceedings are resolved and necessary regulatory permissions are obtained.
“Seplat Energy announces that it has extended with Mobil Development Nigeria Inc. and Mobil Exploration Nigeria Inc. the Share Sale and Purchase Agreement for the acquisition of ExxonMobil’s share capital of Mobil Producing Nigeria Unlimited , in order to preserve the Transaction pending the resolution of certain legal proceedings and receipt of applicable regulatory approvals,” Brown said.
“There has been no material change in terms of the announcements dated 25 February 2022 and 24 May 2023.Seplat Energy said it will continue to engage key stakeholders, expressing commitment to completing the transaction as soon as possible. Click on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!