M&P Sells Its Stake in Seplat Energy for $496 Million

Etablissements Maurel & Prom (M&P) announced on December 31, 2025, the sale of its 20.07% stake in Seplat Energy to Heirs Energies. The transaction, closed at 305 pence per share, totals $496 million. An initial payment of $248 million has been made, with the remainder due within 30 days, secured by a letter of credit. An additional $10 million might be added, depending on future share price performance.

M&P has been a significant stakeholder since Seplat's inception in 2010, contributing to its status as a key player in Nigeria's energy sector. Olivier de Langavant, CEO of M&P, expressed pride in Seplat's growth and emphasized the strategic timing of the sale. The proceeds will allow M&P to focus on direct investments in oil and gas.