Afren plc has acquired an additional an additional 23.3 percent beneficial interest in First Hydrocarbon Nigeria (FHN) following the recent shareholder approval on the recommended acquisition of a 10.4 percent interest in FHN.
The acquisition of an additional 33,966,333 shares, representing approximately 23.3 percent of the outstanding share capital of FHN, from a combination of Capital Alliance Energy Nigeria Limited, Earl Act Global Investments Limited and other FHN shareholders, has been undertaken at an average price of $3.10 per share in cash. Osman Shahenshah, chief executive of Afren, said in a statement Friday: “As previously highlighted, we are delighted to be increasing our indirect beneficial ownership of OML 26 onshore Nigeria and further simplifying the FHN shareholder base.
