Heirs Energies, the energy investment company of Tony Elumelu, has acquired an additional 1% stake in Seplat Energy Plc at the cost of about $70 million (N94 billion), bringing the total shareholding of the Heirs Holdings Group in the oil and gas company to 21.07%.
It will be recalled that Elumelu is taking over as Seplat’s Chairman on January 1, 2027.
With this investment, the value of his investment in Seplat is now at about $1.5 billion.