By Samuel Akpan
Tony Elumelu’s Heirs Energies has paid about $70 million (N94 billion) for an extra one percent of Seplat, lifting Heirs Holdings Group’s holding to 21.07 percent and his investment to about $1.5 billion as he prepares to chair from January 1 2027.
Heirs Energies is the energy investment company of Tony Elumelu and sits inside the wider Heirs Holdings Group that now owns 21.07 percent of the oil and gas producer.
The additional one percent block in Seplat Energy Plc cost about $70 million, equivalent to roughly N94 billion, and deepens the group’s already large position in the company.
That purchase takes the total shareholding of the Heirs Holdings Group in Seplat Energy to 21.07 percent after the latest addition.
Elumelu is set to take over as Chairman of Seplat Energy on January 1 2027.
With this latest investment the value of his holding in Seplat is now put at about $1.5 billion.
Details shortly…