Ardova Plc has notified the Nigerian Exchange Group Plc, its shareholders, and the investing public, that the Company has reached an agreement with Enyo Retail and Supply Holding Limited to acquire a 100% equity stake in Enyo Retail and Supply Limited. This announcement follows the execution of a share purchase agreement by the parties. The parties are committed to closing the transaction, in accordance with the share purchase agreement, as soon as agreed closing conditions are satisfied, and regulatory approval is received.
Olumide Adeosun, Chief Executive Officer of Ardova Plc, stated that “On completion, this acquisition will lead to a stronger downstream energy group that benefits from the increased customer reach and service delivery excellence of both companies, with the combination expected to produce stronger financial results.”
Ardova Plc and Enyo Retail &Supply Limited will communicate details of future progress made on this acquisition.
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