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Seplat Energy PLC - Lagos-based oil and gas firm with assets in Nigeria - Extends agreement to acquire Mobil Producing Nigeria Inc amid pending the resolution of legal proceedings and receipt of regulatory approvals, but "remains committed" to completing the acquisition. Says agreement has been revised so that in the event the transaction closes, Exxon Mobil Corp will share in a portion of the value of Mobil Producing Nigeria during the period of delay. The exact amount of this value will depend on "a number of factors", including the amount of oil produced and oil prices.
Back in February 2022, Seplat agreed to acquire 100% of Mobil Producing Nigeria from Exxon Mobil for USD1.28 billion.
Current stock price: 103.40 pence, up 3.2%
12-month change: down 12%
By Sabrina Penty, Alliance News reporter
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