Maurel & Prom Divests 20.07% Stake in Seplat Energy to Heirs Energies for $496M

BoredStaker · 2026-01-04T14:39:07+00:00

Seplat Energy Plc announced the transfer of a 20.07% shareholding from Maurel & Prom to Heirs Energies for $496 million. The deal includes staged payments and a potential bonus, marking a strategic shift in investor focus. The market reacted positively, boosting share prices for both companies.

BoredStaker

2026-01-04 14:39:07

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In a significant strategic shift, Seplat Energy Plc (SEPL.L) has disclosed that its original investor and former principal shareholder, Etablissements Maurel & Prom S.A. (MAU.PA), a French oil and gas exploration company, has committed to transferring its entire shareholding to Heirs Energies Ltd. The transaction involves a 20.07% equity position valued at $496 million, representing 120.4 million shares at an agreed price of 305 pence per share.

Transaction Structure and Payment Terms

The deal framework features a staged payment approach designed to mitigate execution risk. Heirs Energies has committed to an initial cash payment of $248 million upon closing, with the remaining $248 million due within 30 days and backed by an irrevocable letter of credit. Additionally, the agreement incorporates a performance-based contingent consideration potentially reaching $10 million, contingent upon specified conditions being met post-completion.

Strategic Rationale and Market Implications

Maurel & Prom’s decision reflects a portfolio optimization strategy aimed at unlocking capital from its Seplat Energy investment while redirecting capital toward direct asset ownership in the oil and gas sector. Since establishing Seplat Energy in 2010, the French group had served as the company’s principal backer throughout its evolution into a leading independent energy operator in Nigeria. The transfer to Heirs Energies, part of the broader Heirs Holdings conglomerate, signals a transition to a new anchor investor with a long-term development perspective.

Market Response

The market has responded positively to the announcement. On Wednesday, Seplat Energy shares appreciated 10.72% to close at 284 pence on the London Stock Exchange. Similarly, Maurel & Prom’s listing on the Paris Stock Exchange gained 8.12%, closing at EUR 5.53 per share, reflecting investor confidence in the transaction’s strategic positioning.

Disclaimer: This analysis represents the author’s perspective and does not necessarily reflect official positions of financial institutions or regulatory bodies.

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