Aradel Holdings Plc has said its wholly owned subsidiary, Aradel Energy Limited has entered into a definitive agreement to acquire 40 percent equity interest in ND Western Limited (NDW) from Petrolin Trading Limited (Petrolin).
Aradel Energy Limited currently owns 41.67 percent of NDW. Upon completion of this transaction, Aradel’s total shareholding in NDW will significantly increase, reinforcing its strategic position within Nigeria’s upstream oil and gas sector.
Aradel stock price at N790 per share has reached its 52-week high as against a 52-week low of N401.1.