Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Company News

NIPCO Confirms Deal With Mobil Is Nearly Complete

Nairametrics by Nairametrics
February 4, 2017
in Company News
NipCo Imports Petrol Despite Marketers’ Agitation
Share on FacebookShare on TwitterShare on Linkedin

Mobil Nigeria Plc has revealed that the transfer of its shares to NIPCO Plc will soon be completed. The Managing Director of NIPCO, Mr. Venkataraman Venkatapathy disclosed this during the week.

Mobil last year announced that its parent company ExxonMobil Oil Corporation, had agreed to sell  60% of its shares  to Nipco investment Limited. The deal is said to be worth about $310 million, valuing Mobil at roughly $516 million. The valuation in Naira terms suggest Mobil is now valued at about N160 billion assuming N310 as exchange rate.

Mobil share priced closed on Friday at N275.99 with a market capitalization of about N99 billion. NIPCO as it stands is paying N60 billion more than it currently trades.

RelatedPosts

11 Plc (formerly Mobil Oil Nigeria Plc) declares dividend of N8.25 per share

11 Plc to boost revenue with Lagos Continental Hotel’s acquisition

Mobil also confirmed in the press release that NIPCO has filed formal application with the Security and Exchange Commission requesting authority to proceed with the acquisition.

Mobil had earlier confirmed that part of the deal will allow for a transitional management of both parties for the time being, meaning NIPCO will take-over sometime in 2017 assuming SEC approves the deal. We also understand that part of the deal will allow for a transitional management of both parties for the time being, meaning NIPCO will take-over sometime in 2017.

News continues after this ad


Nipco will also continue to maintain the Mobil brand on its retail outlets as well as continue to blend and sell the Mobil brand of lubricants under Branding Licence (s) from Exxon Mobil

 

News continues after this ad


Related

Tags: Mobil Oil Nigeria Plc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • BREAKING: Darkness: Unions shut down TCN stations across Lagos
    • Google invests over $1.5 billion into Blockchain companies in 10 months
    • Nigeria must halt frivolity with moribund infrastructure starting with incoming government in 2023

    Follow us on social media:

    Recent News

    Power Generation Jumps Above 4,000mw

    BREAKING: Darkness: Unions shut down TCN stations across Lagos

    August 17, 2022
    Google made a whooping $4.7b from news content in 2018, Google Threatens To Remove Its Search Engine From Australia Due To Media Code

    Google invests over $1.5 billion into Blockchain companies in 10 months

    August 17, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com