Aradel Holdings Plc (NGX: ARADEL) has completed the acquisition of an additional 40 per cent equity stake in ND Western Limited, raising its total interest in the company to 81.67 per cent.
This was disclosed by Aradel in a filing on the Nigerian Exchange. The transaction, executed through Aradel’s wholly owned subsidiary, Aradel Energy Limited, follows the fulfilment of all regulatory and contractual conditions.
It was first announced in October 2025 and involved the purchase of the stake from Petrolin Trading Ltd. With the deal now completed, ND Western becomes a subsidiary of Aradel Energy Limited.
The acquisition also strengthens Aradel’s position in Renaissance Africa Energy Company Limited as its indirect ownership in Renaissance Africa Energy rises from 33.3 per cent to 53.3 per cent.
ND Western holds a 45 per cent participating interest in OML 34, a producing oil mining lease located in the western Niger Delta. The company also owns 50 per cent of Renaissance Africa Energy Holding Company Limited, the parent company of Renaissance Africa Energy Company Limited, operator of the Renaissance joint venture.
Commenting on the development, Aradel’s Chief Executive Officer, Adegbite Falade, said the deal aligns with the company’s long-term growth strategy focused on consolidation and scale.
“The completion of this acquisition represents a further step in the execution of our growth and consolidation strategy. Increasing our equity interest in ND Western reinforces Aradel’s position as a leading indigenous integrated energy company and enhances our ability to drive long-term value for shareholders through scale, operational efficiency, and portfolio optimization.”
The acquisition received all required regulatory approvals, including clearances from the Nigerian Upstream Petroleum Regulatory Commission and the Federal Competition & Consumer Protection Commission, and was completed in line with applicable governance and disclosure requirements.
The share price of Aradel rose 7.51% to close at N720.30 per share on NGX on Friday.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
