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- Forte Oil Plc, has officially announced that Mercuria Energy Holdings SA has acquired 17 per cent of its equity valued at $200 million.
- Mercuria Energy Holding SA, the world’s third largest independent energy traders and asset operators, has made an inroad into the West African energy sector through a direct investment in Forte Oil Plc.
- Forte Oil Plc said it has been able to secure additional working capital through the investment to continue its meteoric growth and dominance in the downstream sector, upstream services, power generation and upstream exploration in its bid to becoming Nigeria’s premier integrated energy solutions provider.
- The investment, which has been approved by the Nigerian Stock Exchange and the Securities and Exchange Commission is geared towards improving the group’s working capital and would be used for the expansion of Forte Oil’s various business interests.
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