At last, Renaissance Energy completes $2.4bn acquisition of SPDC

Renaissance Africa Energy has completed the “acquisition of the entire (100%)” equity holding in Shell Petroleum Development Company of Nigeria (SPDC) in a deal worth $2.4 billion.

This development was announced in a statement on Thursday by the spokesman of Renaissance Africa Energy Holdings Tony Okonedo who said the acquisition was completed on the same day.

Renaissance is a consortium formed by ND Western, Aradel Energy, First Exploration & Production (E&P), Waltersmith, and Petrolin.