Oando’s core investor set to take company private, offers minority shareholders 58% premium

Ocean and Oil Development Partners Limited (OODP), the core shareholder of Oando Plc, is taking the energy firm private more than three decades after the driller listed in Lagos as a public firm.

Wale Tinubu, Oando’s chief executive officer, holds a 66.7 per cent stake in OODP, where he is a non-executive director, while his deputy Omamofe Boyo, owns the remaining 33.3 per cent.

Mr Boye is also a non-executive director at OODP.

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