In a communiqué released through the exchange yesterday, By Exon Mobil tagged, “Divestment of Exxonmobil oil corporation’s shares in Mobil oil Nigeria plc.” It was gathered that Nipco Investments Limited yesterday filed a formal application with the Securities and Exchange Commission for an “Authority to Proceed” with the acquisition. According to the report, Exom Mobil Oil Corporation (EMOC) had on the 19th October, 2016 notified the exchange of the execution of the sale and purchase agreement with Nipco Investment Limited.
The acquisition of EMOC’s 216,357,157 ordinary shares in Mobil Oil Nigeria Plc. will be for the consideration of $301,000,000.00 USD subject to price adjustments for dividends and other factors.
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