Fenchurch Energy Limited, the Technical adviser to the Africa Finance Corporation (AFC), is pleased to announce the successful completion of its mandate in providing technical due diligence services in respect of AFC’s acquisition of 100 percent shares of Pecan Energies AS (formerly Aker Energy AS) from Aker ASA, a Norwegian Industrial Investment Company, and The Resource Group TRG AS (TRG).
Aker SA and TRG have agreed to sell their shares in Aker Energy AS (Aker Energy) to AFC Equity Investment Ltd, a company owned by AFC.
Established in 2007, Fenchurch Energy is a leading Upstream and Midstream energy advisory firm headquartered in Lagos Nigeria. Speaking on the completion of the advisory mandate for the landmark acquisition in the Ghanaian oil and gas sector, Olufemi Bakare, CEO of the Fenchurch Group, said “We are delighted to be supporting the AFC on their upstream and midstream investments across Africa.
The Pecan Energies acquisition is just the latest in a growing list of transactions that we have worked on for the pan-African Infrastructure Development Finance Institution.”
AFC is a pan-African multilateral development finance institution with a $10.5 billion portfolio of loans and other investments across six sectors. AFC has invested in several projects in Ghana across various real sectors over the last 15 years, both as equity and debt providers.
“Since we began to provide technical advisory services to AFC in 2019, we have continued to deploy the best hands as well as our region-specific expertise to ensure that the right analysis and advice is provided on this and other AFC transactions.
We congratulate the AFC team on the acquisition and wish them more success in the future” said Funso Adeyemi, Director, Fenchurch Energy.
Mrs. Kemi Ojo
About Fenchurch Energy
Fenchurch Energy Limited (www.fenchurchenergy.com), a subsidiary of the Fenchurch Group, was set up to provide Advisory, Due Diligence, and Project Management services to operators in the Oil and Gas, Power, and financial sectors in Nigeria and the West African sub-region.
The company employs a portfolio of high-quality technical-based solutions tailored to specific customer requirements and delivered by highly qualified personnel.
Congrat to Fenchurch Energy Ltd on its successful advisory role to AFC . Also, the recent amendement of Nigeria constitution empowering states on provision of power supply under IPP should open more opportunity to Fenchurch to position itself on a leading role in Nigeria and Africa.