Vitol S.A and Helios Investment Partners acquire Oando Plc

Aluko & Oyebode acted as Nigerian counsel to a consortium consisting of Vitol S.A and Helios Investment Partners in relation to the acquisition of the downstream and retail businesses of Oando Plc, a leading Nigerian integrated energy company.

The acquired companies include Oando Marketing Plc, Oando Trippmart Limited, Oando Supply and Trading Limited and the jetty-owning entity – Apapa SPM Limited.

The downstream and retail business, to be renamed OVH Energy, will be Nigeria’s second largest downstream fuels business with 12 per cent of the market and will give the Vitol-Helios consortium a total of 400 service stations and more than 600,000 barrels of storage and terminal capacity in the country.

Aluko & Oyebode has advised Vitol S.A and Helios Investment Partners with Olubunmi Fayokun (Picture), Ayodeji Oyetunde (M&A), Reginald Udom, Oludare Senbore (Banking & Finance).

Other law firms which advised on several aspects this cross border deal include Ashurst LLP, Skadden, Arps, Slate, Meagher & Flom, DLA Piper, De Brauw Blackstone Westbroek N.V., Clifford Chance, and Loyensloeff.

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Author: Andrea Canobbio