Home NewsAfrica Seplat denies ExxonMobil deal cancellation, says they have not received notification | Radarr Africa

Seplat denies ExxonMobil deal cancellation, says they have not received notification | Radarr Africa

by admin

Seplat Energy, on Thursday, stated it had not acquired any official notification from the Federal Authorities of Nigeria reversing its proposed acquisition of the complete share capital of Mobil Producing Nigeria Limitless.

The corporate additionally stated it was searching for clarification from related authorities relating to the claims that the President, Main Normal Muhammadu Buhari (retd.), who doubles as Minister of Petroleum Assets, had withdrawn his ministerial approval for the deal.

“Seplat Power has develop into conscious of a information report claiming that ministerial approval of the corporate’s proposed acquisition of the complete share capital of Mobil Producing Nigeria Limitless has been withdrawn,” the oil agency said in an announcement issued by its Chief Monetary Officer, Emeka Onwuka.

It added, “Seplat Power has acquired no official notification of such a call and is searching for clarification from the related authorities.”

The transfer places the Presidency on the facet of the Nigerian Nationwide Petroleum Firm Restricted which had earlier declined the $1.3bn transaction.

An announcement by the Particular Adviser to the President on Media and Publicity, Femi Adesina, had introduced on Monday that Buhari consented to the acquisition of Exxon Mobil shares by Seplat Power.

In line with the Presidency, Buhari authorised the transfer in his capability as Minister of Petroleum Assets as a method to appeal to Overseas Direct Funding to the nation.

This was, nevertheless, contested by the Nigerian Upstream Petroleum Regulatory Fee, because the Chief Govt, NUPRC, Gbenga Komolafe, stated the regulator wouldn’t and didn’t endorse the transaction.

Reacting to the event on Wednesday, the Senior Particular Assistant to the President on Media and Publicity, Garba Shehu, said that Buhari had reversed the choice and that the misunderstanding was as a result of the “businesses concerned in (the) resolution had not coordinated effectively amongst themselves.”

ALSO READ: Buhari reverses approval of Seplat’s acquisition of ExxonMobil asset

Responding to claims on the reversal of ministerial approval, Seplat said on Thursday that it had not acquired any official notification on the choice.

The oil agency, nevertheless, famous that it “will proceed to work with all events to realize a profitable end result to the proposed acquisition and can present an replace in the end.”

It stated the “announcement is made pursuant to Rule 17.10 of the Rulebook of the Nigerian Change, 2015 (Issuer’s Rule).”

Supply: Punch

Source link

You may also like

Leave a Comment