Partial divestment of Oando Gas and Power to Helios Investment Partners for US$115 million

Oando PLC divested 75% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited (“OGP”), to Glover Gas & Power B.V., a special purpose vehicle owned by Helios Investment Partners LLP (“Helios”), a premier Africa-focused private investment firm, for $115 million. OGP is the largest private sector gas distributor in Nigeria, delivering at peak, 70 million standard cubic feet per day (“mmscf/d”) to over 175 industrial and commercial customers via a network of gas infrastructure. With over 260km in pipeline infrastructure built, OGP provides energy solutions primarily through its subsidiaries: Gaslink Nigeria Limited, Gas Network Services Limited, and Central Horizon Gas Company. Fasken Martineau advised Oando PLC; the transaction was led by Abayomi Akinjide, supported by Jane Wang and Laura Bradley. This transaction was awarded Large Cap Deal of the Year (2017) by Private Equity Africa and Fasken was shortlisted in the Advisor of the Year category in recognition of our work on this matter.