Sefton Fross has advised Ignite Investments and Commodities Limited on its Proposed Acquisition of 75% Shares from the Majority Shareholder in Forte Oil Plc. Downstream Business

Sefton Fross has advised Prudent Energy and Services Limited, investing through Ignite Investments and Commodities Limited, on its agreement with Mr. Femi Otedola (CON), the Majority Shareholder in Forte Oil PLC, to acquire the 75% direct and indirect holdings of the Majority Shareholder the in Forte Oil’s downstream businesses.

The Transaction is expected to close in the First Quarter (Q1) of 2019 subject to the satisfaction of various conditions and receipt of applicable regulatory approvals.

Sefton Fross acted as legal advisor to the Buyer, together with Stanbic IBTC Capital Limited and PriceWaterhouseCoopers as Joint Financial Advisers.