DLA Piper has advised Oando, the Nigeria-based integrated energy solutions provider, on the $1.65 billion acquisition of ConocoPhillips’ offshore and onshore assets in Nigeria and the associated reserve-based, multi-source financing.
This acquisition will make Oando one of the largest indigenous oil producers both in Nigeria and Africa as a whole.
The DLA Piper team that advised on the acquisition was led by International Head of Finance & Projects, Charles Morrison who was supported by senior associate Adam Blythe. Partner Dimitri Papaefstratiou, legal director Jakub Kubicki, associate Pam Dusu and trainee Kirsty Law advised on all aspects of the multi-source financing of the acquisition, including reserve-based lending.
Charles Morrison said: “This is an extremely important acquisition for Oando that has consolidated its position as Nigeria’s leading energy solutions provider and we are very pleased to have played a key role in helping them to achieve that aim.”
Dimitri Papaefstratiou added: “DLA Piper has an excellent reputation for advising energy clients in Africa and a great track record of delivering major transactions in Nigeria. Our first-rate energy & infrastructure finance capabilities ensured we were able to support Oando on the complex financing that enabled the completion of this important deal.”
Chief Legal Officer of Oando, Ngozi Okonkwo said: “We are delighted to have closed this transaction which will no doubt play a pivotal part in Oando’s history. We are grateful to DLA Piper for providing such excellent, thorough and proactive service and supporting us on both the acquisition and financing work streams.”
