Aberdeen oil firm to be acquired for £382 million by Nigerian rival

15/10/2019 14:14 Energy

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Aberdeen-based Eland Oil & Gas is set to be acquired for £382 million by Nigerian oil firm Seplat.

Eland directors have recommended shareholders approve Seplat’s takeover bid.

 

Led by North Sea veteran George Maxwell, Eland has developed a significant oil and gas production business focused on the Niger Delta.

 

Seplat said the acquisition will support its drive to become the leading exploration and production company focused on Nigeria.

Source: heraldscotland.com

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