Seplat turns to loans for Eland buy

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By Mike Turner
15 Oct 2019

Nigeria’s Seplat Petroleum is in advanced staged talks for an around £382m cash acquisition of London-listed Eland Oil & Gas, with the buyer partly financing the deal with a new loan.

Seplat has offered £1.66 a share for Eland, in a deal that Seplat plans to fund using a mix of its own cash resources and a new loan facility. 

Citi is acting as sole financing advisor to Seplat. 

Citi was a mandated lead arranger in Seplat’s $300m loan refinancing in ...

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