Aradel Holdings Plc, through its wholly-owned subsidiary, Aradel Energy Limited, has entered into a definitive agreement to acquire a 40 percent equity interest in ND Western Limited from Petrolin Trading Ltd.
Aradel Energy Limited currently owns 41.67 percent of ND Western. Upon completion of this transaction, Aradel’s total shareholding in ND Western will increase to 81.67 percent, reinforcing its strategic position within Nigeria’s upstream oil and gas sector.
This was made known in a release signed by Adegbola Adesina, Chief Financial Officer of Aradel Holdings, early Friday.