Friday, March 28, 2014

Aliko Dangote Plans to Acquire Stake in Shell Nigeria’s Gas Field

Africa’s Richest Man Aliko Dangote is taking over the Nigerian business world, one step at a time.
According to African Intelligence, the Nigerian tycoon is planning to acquire a stake in a Nigerian gas field owned by Shell.
His company, Dangote Industries reportedly submitted the highest bid for the Anglo-Dutch multinational energy company’s stake in Oil Mining Lease (OML) 18 at an auction last year. The amount set aside by Dangote for the bid as well and the stake to be acquired, isn’t revealed.
Forbes’ Mfonobong Nsehe reports that this isn’t the first time Aliko Dangote made an attempt to acquire a stake in the company. He lost to Conoil Producing in 2010 in a bid for a 45% stake on OML 30.

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