Oando Plc says it has received an offer from Ocean and Oil Development Partners Limited (OODP), an investment company, to acquire the shares of all minority shareholders.

In a statement on Thursday, signed by Ayotola Jagun, chief compliance officer/company secretary, Oando said if the conditions of the transaction with OODP, its core investor, are satisfied, the company will become a private company.

Oando was listed as a public company on the Nigerian Stock Exchange — now Nigerian Exchange Limited (NGX) in February 1992. According to the statement, if the offer is completed, the oil firm will be delisted from NGX and Johannesburg Stock Exchange (JSE) and re-registered as a private company.

The organization said the transaction will be executed through a scheme of the arrangement, in accordance.....

https://ratecaptain.com/oando-to-become-private-firm-as-core-investor-offers-buyout-of-minority-shareholders/

This is a huge deal