Aradel Holdings Completes 40% Equity Interest Acquisition In ND Western

Aradel Holdings Plc said its subsidiary, Aradel Energy Limited, has completed the acquisition of an additional equity interest in ND Western Limited, following the fulfilment of all regulatory and contractual conditions precedent.

The company, in a statement on the Nigerian Exchange (NGX), announced that the transaction, previously disclosed on October 24, 2025, involved the acquisition of a 40 per cent equity interest in NDW from Petrolin Trading Limited.

“With the completion of the transaction, Aradel Energy Limited’s shareholding interest in NDW increased from 41.67 per cent to 81.67 per cent, and NDW has become a subsidiary of Aradel Energy Limited. The acquisition also results in a material increase in Aradel’s aggregate shareholding in Renaissance Africa Energy Company Limited, increasing its total indirect ownership in the company from 33.3 per cent to 53.3 per cent.

“NDW holds a 45 per cent participating interest in OML 34, a producing Oil Mining Lease located in the Western Niger Delta and owns 50 per cent of the share capital of Renaissance Africa Energy Holding Company Limited, the parent company of Renaissance Africa Energy Company Limited, which operates the Renaissance Joint Venture,” it said.

The statement added that “this acquisition is consistent with Aradel’s long-term strategy of disciplined portfolio consolidation, asset base expansion, and sustainable value creation. It further strengthens the Company’s position within Nigeria’s upstream oil and gas sector, enhances operational scale, and supports improved efficiency and resilience across the Company’s asset portfolio.”

Speaking on the transaction, the chief executive officer of Aradel Holdings, Adegbite Falade, stated, “The completion of this acquisition represents a further step in the execution of our growth and consolidation strategy.

Increasing our equity interest in ND Western reinforces Aradel’s position as a leading indigenous integrated energy company. It enhances our ability to drive long-term value for shareholders through scale, operational efficiency, and portfolio optimisation.”

Aradel Holdings noted that “the transaction was completed following the receipt of all requisite regulatory approvals, including approvals from the Nigerian Upstream Petroleum Regulatory Commission and the Federal Competition & Consumer Protection Commission, and is in compliance with all other applicable regulatory, governance, and disclosure requirements.”