Renaissance Africa Energy has confirmed the signing of what it called a landmark transaction with Shell PLC to acquire its entire shareholding in the Shell Petroleum Development Company of Nigeria Limited.
Renaissance is a consortium consisting of ND Western Limited, Aradel Holdings Plc, the Petrolin Group, FIRST Exploration and Petroleum Development Company Limited, and the Waltersmith Group.
Shell had earlier announced that Shell PLC on Tuesday said it has “reached an agreement to sell its oil business in the Niger Delta, the Shell Petroleum Development Company of Nigeria Limited (SPDC)” to Renaissance Africa Energy.
In a statement on its website Tuesday, Renaissance said the acquisition marks a significant milestone, establishing its strategic position in the Nigerian market.
The consortium said it was “committed to ensuring a smooth transition and looks forward to leveraging its expertise, in partnership with SPDC’s industry-leading staff and working in partnership with all the stakeholders in the SPDC-JV to drive continued growth and success in Nigeria and beyond”.
However, Renaissance said, “the completion of the transaction is subject to the requisite regulatory approvals.”
Also reacting, one of the companies that made up the consortium, Aradel Holdings Plc said the acquisition “marks a significant milestone for Aradel, which will bring enormous benefits to its shareholders, further strengthen its financial outlook and consolidate its strategic positioning in the Nigerian energy market”.
Aradel disclosed that it is committed to working in partnership with all the stakeholders in Renaissance and the SPDC Joint Venture to ensure a smooth transition and drive continued growth and success in Nigeria and beyond.
Aradel’s Chief Executive Officer/Managing Director, Adegbite Falade, was quoted as saying: “This successful acquisition represents a key step in our journey to becoming a leading energy company in Africa and aligns with our long-term strategic growth plans. It also demonstrates our commitment to our “3R” Strategy of Resilience, Robustness, and Redundancy.”
Shell, for years, has sought to sell its Nigerian oil and gas business but will remain active in Nigeria’s more lucrative and less problematic offshore sector.

DeRuggedProf:
Ogogoro and Ogogoro, why do you want to walk in the shadow of The Corpse. Wny warm up to disgrace the Corpse?
Till N300 do us part in 2025...

Chai... Is it the local one abi the foreign brand?

Its not Oando, Transcorp or any of the listed companies that is buying the shell onshore asset.

thebargainhunte:
They should have used this bull period to usher in their listing price. I thought DS would have gotten to #100 before retracting. Just look at Buafoods firing from all cylinders, e pain shaa

BTW even without the merger, NASCON and sugar as stocks of the richest African, suppose be ashamed of themselves. Can you imagine how many stocks that has done over 1000% price appreciation?

aj8:




May be it’s best to wait till the Q4 results since it’s for the long term. We are like in injury time. Really not the best time to accumulate. Aim must always be to buy at a discount of value or at worst at value. The aim of DD is to improve vision.

The way people queued up today...Wema may likely overtake fidelity and FCMB in the Short term.

stcool:


The way people queued up today...Wema may likely overtake fidelity and FCMB in the Short term.

we are watching closely

stcool:


The way people queued up today...Wema may likely overtake fidelity and FCMB in the Short term.

It did that already to fcmb based on today closing price.let see if it can displace fidelity. In profitability it will be serious work though I prefer thr services to either fcmb and fidelity. They did well during the money crunch caused by cbn policy.

Can Access stop buying more banks!!! Increase this dividend ooo 🤣🤣
https://doclib.ngxgroup.com/Financial_NewsDocs/Access_Holdings_-_Acquisition-of-FTB-Uganda.pdf

Ginalex:
Eterna has finally answered... I'm so loving this
@Ymycy56 you saw into the future o

Hhmmm.........
Closed on full bid @19

https://doclib.ngxgroup.com/Financial_NewsDocs/Eterna_Plc_-_Announcement_on_Dangote_Refinery.pdf

Zagee:
Can Access stop buying more banks!!! Increase this dividend ooo 🤣🤣
https://doclib.ngxgroup.com/Financial_NewsDocs/Access_Holdings_-_Acquisition-of-FTB-Uganda.pdf

More from ACCESS

https://doclib.ngxgroup.com/Financial_NewsDocs/40111_ACCESS_HOLDINGS_PLC-APPROVAL_IN_PRINCIPLE_TO_ESTABLISH_A_CONSUMER_LENDING_SUBSIDIARY_CORPORATE_ACTIONS_JANUARY_2024.pdf

yMcy56:

Hhmmm.........
So much insult on me on this stock both from here and even off-here, even cost me something important.

Closed on full bid @19

https://doclib.ngxgroup.com/Financial_NewsDocs/Eterna_Plc_-_Announcement_on_Dangote_Refinery.pdf

That serious? Kpele... I was really wondering why they didn't make the initial list of Dangote's partners. I began to also wonder why they acquired an import license also. Only them.

yMcy56:

More from ACCESS

https://doclib.ngxgroup.com/Financial_NewsDocs/40111_ACCESS_HOLDINGS_PLC-APPROVAL_IN_PRINCIPLE_TO_ESTABLISH_A_CONSUMER_LENDING_SUBSIDIARY_CORPORATE_ACTIONS_JANUARY_2024.pdf

At this rate, they might be in all 54 countries of Africa o

yMcy56:

Hhmmm.........
Closed on full bid @19

https://doclib.ngxgroup.com/Financial_NewsDocs/Eterna_Plc_-_Announcement_on_Dangote_Refinery.pdf

No wonder Kai... Nne you don't know what you've done for me . Thank you so much... My Ṣugar, Salt (holding till relisting), now Eterna, transcorp and Intbrew making me happy 😊

yMcy56:

Hhmmm.........
Closed on full bid @19

https://doclib.ngxgroup.com/Financial_NewsDocs/Eterna_Plc_-_Announcement_on_Dangote_Refinery.pdf

I hope they will not be coming to raise funds.

They are moving towards their vision...acquisitions and mergers come at a price.We hope they can manage the risks involved in order to deliver more value to shareholders.The patient would smile if so, if not sope o tilo o

Zagee:
Can Access stop buying more banks!!! Increase this dividend ooo 🤣🤣
https://doclib.ngxgroup.com/Financial_NewsDocs/Access_Holdings_-_Acquisition-of-FTB-Uganda.pdf

more light please

DeRuggedProf:
Ogogoro and Ogogoro, why do you want to walk in the shadow of The Corpse. Wny warm up to disgrace the Corpse?
Till N300 do us part in 2025...

megawealth01:
We have successfully moved AFRIPRUDENTIAL to a double digit stock...

Let the bulls start from here... E go choke ooooo

I believe everyone following MEGA entered at #8+ or even #7+ sef... The beautiful thing about AFRIP is it's a good dividend paying stock... It has a high possibility of paying a fat dividend soon... If you missed UCAP...AFRIP will do the job

Na GOD win...

Dividends for the 2023 FY might be lower than what was paid in the previous 2 years unless the payout ratio is unreasonable from a growth standpoint, or cash reserves will take the hit. I might be wrong though.

DeRuggedProf:
Ogogoro and Ogogoro, why do you want to walk in the shadow of The Corpse. Wny warm up to disgrace the Corpse?
Till N300 do us part in 2025...

From NOW till June my CRYSTAL BALL 🔮 is pointing @ #200.

BARGAIN HUNTERS TAKE NOTE!

*ThE OcTopuS* 🐙

chunkuli:
more light please

He must be referring to NB and GUINNESS

(Do your due diligence as this is my opinion)
Near term (to Long term) prices if there is a parabolic move on NSE index and stocks.

JB 100 to 120
WAPCO 150+ if not more.
Dangote cement 450 to 500
Seplat 2k5+
Nestle 3K+

Flourmill needs to spike out of control towards 200 to 300. Food crisis will get severe and man must chop

Conoil 300+
Total 600+
FO 450+
Transcorp 15+

Bua cement is about to breakout. It will be rapid. Soon people go begin drink cement.

For the Brewers, I gave possible price targets earlier. Because when economy/globe good, you drink to celebrate. But when economy/globe bad, you drink to cure stress and depression.

For Banks, I gave possible price targets as well.

With these, NSE ASI will easily do 100K and above.

(Based on TA only. Fundamentals lag Technicals)

Here's a prediction from.Oga RabbiDoracle on May 11, 2022
Just have to fish this out

Where's the doubting Oga Rebekah? He said it's not possible in 30 yrs to come self

**Not any form of advice. DD pls**

yMcy56:

He must be referring to NB and GUINNESS

I think he is referring to OandO

DeRuggedProf:
Ogogoro and Ogogoro, why do you want to walk in the shadow of The Corpse. Wny warm up to disgrace the Corpse?
Till N300 do us part in 2025...

My man, people are struggling to decode you but unsuccessful.I always understand your slangs.

This is a matter btw Transcorp and Geregu, the corpse and ogogoro.

veecovee:

BTW even without the merger, NASCON and sugar as stocks of the richest African, suppose be ashamed of themselves. Can you imagine how many stocks that has done over 1000% price appreciation?

I know that the 1 billion staked in it 3 days ago and 2 billion staked in it 2 days ago are pointers that something good is coming. I stand with Alhaji, just see what he is doing in dangcem after share buy back. My only frustration is that we have been in the dark for so long, dead stocks have resurrected and they are pushing their price very fast during this bull. I know I would have doubled my money if I didn't tie my money with Alhaji during this bull period. E dey pain me

Locotrader:


My man, people are struggling to decode you but unsuccessful.I always understand your slangs.

This is a matter btw Transcorp and Geregu, the corpse and ogogoro.

Ogogoro and Ogogoro is 'OandO'

He is ranting that Transcorp overtook Oando in price.

But optimistic, it will hit 300 in 2025.

É get as bull dey FOMO person sha.

Me and my household are awaiting current price next bedsheet prediction as we approach February.

Alhaji pity your boiz, hunger dey for d street. E red like blood.

thebargainhunte:
Alhaji pity your boiz, hunger dey for d street. E red like blood.

Alhaji no dey forget his project... Be patient till dangfoods... This one nobi gambles

DD pls

owolabi5:


Ogogoro and Ogogoro is 'OandO'

He is ranting that Transcorp overtook Oando in price.

But optimistic, it will hit 300 in 2025.

É get as bull dey FOMO person sha.

Me and my household are awaiting current price next bedsheet prediction as we approach February.

The TRUTH is transcorp and its hotel at this junction are overpriced and extremely risky for those jumping in... As for OANDO I'll make extreme research about this delisting issue before making informed decision until them... Oando is still what it is until the path is crystal clear

Abeg no quote me oooooo... I always do DD before entering stocks as against what many people think just that I ignore warnings alot...

megawealth01:


Alhaji no dey forget his project... Be patient till dangfoods... This one nobi gambles

DD pls

I no wan carry this one gamble, if na before, I for don sell am tey tey. I see dangfoods selling above #300 before year 2026. This I have seen and this must come to pass.

It seems to be time for the brewery sector sha... If true all of them will experience the bull just as the financial sector all experienced theirs... Including UNITY BANK wey be semi dead bank

Be guided by doing your own research

I was told Oando is acquiring Shell assets. Still trying to get more confirmation

thebargainhunte:
I no wan carry this one gamble, if na before, I for don sell am tey tey. I see dangfoods selling above #300 before year 2026. This I have seen and this must come to pass.

We are watching closely

bennybuhari:
I was told Oando is acquiring Shell assets. Still trying to get more confirmation

Please do and revert.. would be good news especially if they decide not to delist