Seplat: Our $1.3bn deal with ExxonMobil on hold -- NNPC secured court order against it | TheCable

Bunmi AdulojuSeplat Energy Plc says the Nigerian National Petroleum Company has won a court injunction restraining ExxonMobil Corporation from selling its assets in Nigeria.to acquire the entire share capital of Mobil Producing Nigeria Unlimited from ExxonMobil for $1.3 billion.

In a statement on Monday, Edith Onwuchekwa, company secretary at Seplat, said an Abuja high court had granted the NNPC an “order of interim injunction” restraining ExxonMobil “from completing any divestment” in oil mining lease 68, oil mining lease 69, oil mining lease 70 and oil prospecting licence.

“MPNU, its shareholders , and the Nigerian Upstream Petroleum Regulatory Commission are named as defendants in the suit. “On 6 July 2022, the State High Court made an ex parte order of interim injunction restraining the Defendants from completing any divestment in MPNU, including the Share Sale and Purchase Agreement signed with Seplat Energy Offshore Limited .”

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