Fenchurch Energy Limited, a Nigerian upstream and Midstream energy advisory has announced the completion of technical due diligence service for Africa Finance Corporation’s (AFC’s) on the 100 per cent acquisition of Pecan Energies AS, formerly Aker Energy AS, from Aker ASA, a Norwegian industrial investment company, and The Resource Group TRG AS (TRG).
According to a statement by the energy technical advisory, Aker SA and TRG have agreed to sell their shares in Aker Energy AS to AFC Equity Investment Ltd, a company owned by AFC.
Speaking on the completion of the advisory mandate for the landmark acquisition in the Ghanaian oil and gas sector, the Chief Executive Officer of Fenchurch Group, Olufemi Bakare, expressed delight to have supported AFC on its upstream and midstream investments across Africa.
He said the Pecan Energies acquisition is just the latest in a growing list of transactions that Fenchurch has worked on for the AFC.
According to him, AFC is a pan-African multilateral development finance institution with a $10.5 billion portfolio of loans and other investments across six sectors.
He said AFC has invested in several projects in Ghana across various real sectors in the last 15 years, both in equity and debt instruments.
The Director, Fenchurch Energy, Funso Adeyemi, said since the firm commenced the provision of technical advisory services to AFC in 2019, it has continued to deploy the best hands and its region-specific expertise to ensure the right analysis and advice is provided.
