Lagos Nigeria, 30 July 2014 – Owel-Linkso Group has completed the acquisition of the Egbaoma Gas Processing Plant located in OML 38, from the Platform Petroleum/Newcross Joint Venture. The equity investment supporting the acquisition was provided by Africa Capital Alliance, the Lagos based Private Equity Fund. CBO Capital Partners are sole financial advisors to the project sponsors, Owel-Linkso Group.
According to a statement from Chuka Mordi, a Director of CBO Capital Partners, “We are pleased to support a project of this magnitude; it is in line with our investment philosophy of providing capital for the funding and growth of African businesses. We truly believe that infrastructural development, especially in the energy sector is extremely crucial to the economic growth of the country.
Commenting on the $55m acquisition, Charles Osezua, Chairman of Owel Linkso Group said: “Having pioneered gas and power sector development with Gas Link, our organization is committed to continuous development and expansion of infrastructure in the sector; through the Gas Train project, we intend to become leaders in the sector.”
CBO Capital is a leading Investment and Project development firm based in Lagos, Nigeria. It was established with the aim of servicing and supporting business growth in Africa. Its Asset Management subsidiary, CBO Investment Management (CBO IM) is currently raising a $200m Private Equity Fund, for investment across the West African region.
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