VERTEX ASSUMES THE LARGEST SHARE OF FIRST HYDROCARBON NIGERIA (FHN)
Vertex, an Upstream Nigerian independent funded by African
Capital Alliance (ACA), has taken 40% of First Hydrocarbon Nigeria FHN, in a
new shareholding structure of the latter. The company is one of two new equity
holders of FHN, buying into what used to be Afren’s 70% of FHN. The other
newcomer is the FHN Management, now holding 15%.
Equity belonging to African Capital Alliance (ACA), an early
investor, has increased to 19.9% (from 11.9%). Earl Act, which held 22%, now has 25.1%. Earl Act is a
financial services firm serving as vehicle for a Nigerian lender which has
granted substantial loans to FHN.
Read more @ Africa Oil+Gas
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