We have not received notice of ExxonMobil deal cancellation – Seplat Energy

Written by on August 12, 2022

Seplat Energy has said it did not get any official notification from the Federal Government reversing its proposed acquisition of the entire share capital of Mobil Producing Nigeria Unlimited.

The company in a statement obtained from the Nigerian Exchange Limited (NGX) also stated that it is seeking clarification from the relevant authorities that the president had reversed his consent for the acquisition.

On February 25, Seplat Energy Plc announced an agreement to acquire the entire share capital of Mobil Producing Nigeria Unlimited from Exxon Mobil Corporation, Delaware for $1.28 billion.

  • Speaking on the matter, the company said, “Seplat Energy has become aware of a news report that Ministerial Approval of the Company’s proposed acquisition of the entire share capital of Mobil Producing Nigeria Unlimited (MPNU) has been withdrawn.
  • “Seplat Energy has received no official notification of such a decision and is seeking clarification from the relevant authorities. We will continue to work with all parties to achieve a successful outcome to the proposed acquisition and will provide an update in due course.”

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