By Ron Derby
Feb. 25 (Bloomberg) — Oando Plc, Nigeria’s biggest retailer of petroleum products, said it will pay $625.7 million for Shell Nigeria Exploration and Production’s 49.8 percent stake in offshore licenses 125 and 134.
Oando confirmed the transaction in a statement distributed by the Stock Exchange News Service in Johannesburg today.
To contact the reporter on this story: Ron Derby in Johannesburg at [email protected]
Last Updated: February 25, 2008 05:06 EST