#Nigéria #Togo #Suisse #Italie #Hollande #Bermude #Trafic #Helios, #Vitol linked firm takes $276 million stake in #Oando downstream Francesco Cuzzocrea #Ndrangheta

#Suisse #Nigéria #Togo #Italie #Hollande #Bermude #Trafic #Helios, #Vitol linked firm takes $276 million stake in #Oando downstream Francesco Cuzzocrea #Ndrangheta

Oando plc, dont le siège se trouve au Nigeria, a conclu un accord définitif avec HV Investments II BV (HVI), une coentreprise détenue par un fonds conseillé par Helios Investment Partners (Helios) et The Vitol Group (Vitol), pour disposer de 51% de ses droits de vote et 60 pour cent des droits économiques de ses activités en aval.

HV Investments II B.V déboursera environ 276 millions de dollars, soit environ 62 milliards de dollars pour l’opération, sous réserve de la réception des approbations réglementaires et sous réserve des rajustements habituels du prix d’achat, y compris le fonds de roulement (l’acquisition).

La contrepartie totale de 461,3 millions de dollars (environ 104 milliards de dollars) sera financée par une contribution en espèces de HVI de 276,8 millions de dollars et des actions privilégiées de 184,5 millions de dollars émises à Oando plc, sous réserve des rajustements habituels du prix d’achat, y compris le fonds de roulement et la dette à long terme. À la clôture, HVI détiendra 60% du véhicule à usage spécial, tandis qu’Oando Plc détiendra une participation de 40%.

Commentant la transaction, Wale Tinubu, Directeur Général du Groupe (GCE) d’Oando Plc, a déclaré: « Cette transaction est un développement passionnant dans l’aval de l’Afrique de l’Ouest. En collaborant avec Vitol, une société mondiale d’énergie et de matières premières et Helios, une société d’investissement privée orientée sur l’Afrique, Oando Plc a repositionné Oando Downstream pour une nouvelle ère de croissance et de rentabilité des investissements. « Fait important, la cession permet à Oando Plc de se concentrer sur ses activités amont et intermédiaires. Même si le produit de la vente servira presque entièrement à réduire l’effet de levier d’Oando, nous soulignons la rationalisation du portefeuille réalisée parallèlement à l’optimisation du bilan.

Les activités en aval d’Oando sont principalement constituées de Oando Marketing Plc («OMP»), une société de distribution et de distribution de produits pétroliers comptant plus de 400 points de vente au détail et des terminaux stratégiquement situés au Nigeria, au Ghana et au Togo. OMP distribue de l’essence automobile de première qualité, du gasoil automobile, du kérosène à double usage, du kérosène de turbine aéronautique, du mazout léger, des huiles lubrifiantes, des graisses, du bitume et du gaz de pétrole liquéfié. Les principales filiales de l’OMP qui font partie de l’acquisition comprennent Oando Ghana Limited, Oando Togo SA et Clean Cooking Fuel Investments Ltd.

Il comprend également Oando Supply & Trading Limited («OS & T»), un important négociant physique autochtone de produits pétroliers de la région subsaharienne, qui fournit et commercialise du pétrole brut et des produits pétroliers raffinés. OS & T négocie des cargaisons à gros volume vers les principaux distributeurs de pétrole et les commerçants indépendants au Nigeria; Oando Trading Limited (Bermuda) («OTB»), une entité impliquée dans le négoce de pétrole brut et de produits pétroliers raffinés sur les marchés internationaux; et Apapa SPM Limited, la jetée de la marina et le réseau de pipelines sous-marins capable d’accoster de grands navires qui augmenteront la capacité de livraison et l’efficacité de déchargement des produits pétroliers dans les principales installations de stockage du pétrole à Apapa, Lagos.

Ses autres activités sont principalement constituées d’Ebony Oil & Gas Limited, l’entité ghanéenne d’approvisionnement et de négoce avec une licence provisoire de distribution en vrac fournissant des produits blancs.

En vertu de l’acquisition, un véhicule ad hoc détiendra 100% des intérêts économiques et 49% des droits de vote d’Oando Downstream.

Oando plc est le plus grand groupe de solutions énergétiques intégrées en Afrique subsaharienne, avec une cotation primaire et secondaire à la bourse nigériane et à la bourse de Johannesburg respectivement. Il a aussi une inscription en amont à la Bourse de Toronto. La société a une capitalisation boursière de plus de 1 milliard de dollars et des revenus de 2,9 milliards de dollars en 2013.

Oando Plc est devenue la principale société énergétique nigériane avec des activités entièrement intégrées dans les divisions en amont, intermédiaires et en aval du secteur pétrolier et gazier. Le groupe, par l’intermédiaire de ses filiales d’exploration et de production, détient des participations dans 19 permis de production, d’exploration et de mise en valeur d’actifs pétroliers et gaziers situés à terre, dans des marécages et en haute mer. Son activité de services énergétiques est un fournisseur local de services pétroliers aux opérateurs de l’industrie pétrolière et gazière au Nigeria.

Oando Gas & Power est le plus grand distributeur et développeur de gaz naturel du secteur privé au Nigéria; il distribue et vend du gaz naturel aux acheteurs industriels et commerciaux du Nigeria; en plus de développer et d’exploiter des centrales électriques. La division en aval comprend Oando Marketing, Oando Supply et Trading et Oando Terminals, qui sont ensemble les principaux fournisseurs et distributeurs locaux de produits pétroliers en Afrique subsaharienne.

La société est dirigée par une équipe de direction et une main-d’œuvre hautement qualifiées et expérimentées, avec une expérience réussie et une riche expérience dans le secteur pétrolier et gazier.

Helios Investment Partners est une société d’investissement orientée vers l’Afrique qui gère des fonds totalisant plus de 3 milliards de dollars. La base diversifiée d’Helios englobe un large éventail d’investisseurs mondiaux, notamment des fonds souverains, des fonds de pension publics et privés, des fondations, des fonds de fonds, des family offices et des institutions de financement du développement aux États-Unis, en Europe, en Asie et en Afrique. Le groupe Vitol a été fondé en 1966 à Rotterdam, aux Pays-Bas. Depuis lors, l’entreprise a connu une croissance significative pour devenir un acteur majeur sur les marchés mondiaux des matières premières et est aujourd’hui le premier trader énergétique indépendant au monde.

OANDO TOGO SA

Hydrocarbure / Pétrole

1, Bd. du Mono, Rond point Port, Zone Portuaire
BP 2987
Lomé – Togo
Tel :
(+228) 22 27 04 22
(+228) 22 27 50 91
Fax :
(+228) 22 27 04 22

Helios, Vitol linked firm takes $276 million stake in Oando downstream

Oando plc, headquartered in Nigeria says it has entered into a definitive agreement with HV Investments II B.V (HVI), a joint venture owned by a fund advised by Helios Investment Partners (Helios) and The Vitol Group (Vitol), to dispose 51 percent of its voting rights and 60 percent of the economic rights of its downstream businesses.

HV Investments II B.V will pay about $276 million, about N62billion for the deal, conditional upon the receipt of regulatory approvals and subject to customary purchase price adjustments, including working capital (the Acquisition).

The total consideration of $461.3million (about N104billion) will be funded by a $276.8 million cash contribution from HVI and $184.5 million in preference shares issued to Oando plc, subject to customary purchase price adjustments, including working capital and long-term debt. At closing, HVI will own 60 percent of the special purpose vehicle, while Oando Plc will hold a 40 percent stake. 

Commenting on the transaction, Wale Tinubu, Group Chief Executive (GCE) of Oando Plc said, “This transaction is an exciting development in downstream West Africa. By working with Vitol, a global energy and Commodities Company and the largest independent trader of energy products, and Helios, a premier Africa-focused private investment firm, Oando Plc has repositioned Oando Downstream for a new era of investment growth and profitability. “Importantly, the divestment enables Oando Plc to focus on its upstream and midstream businesses. Even as proceeds of the sale will be applied almost entirely to reducing Oando’s leverage, we underscore the portfolio rationalisation achieved alongside the balance sheet optimization.”

The Oando downstream businesses primarily consist of Oando Marketing Plc (“OMP”), a petroleum product retailing and distribution company with over 400 retail outlets and strategically located terminals in Nigeria, Ghana and Togo. OMP distributes premium motor spirit, automotive gas oil, dual-purpose kerosene, aviation turbine kerosene, low pour fuel oil, lubricating oils, greases, bitumen and liquefied petroleum gas. Key OMP subsidiaries that are part of the acquisition include, Oando Ghana Limited, Oando Togo SA, and Clean Cooking Fuel Investments Ltd.

It also consists of Oando Supply & Trading Limited (“OS&T”), a leading indigenous physical trader of petroleum products in the sub-Saharan region, supplying and trading crude oil and refined petroleum products. OS&T trades large volume cargoes to major oil marketers and independent marketers in Nigeria; Oando Trading Limited (Bermuda) (“OTB”), an entity involved in the trading of crude oil and refined petroleum products in international markets; and Apapa SPM Limited, the marina jetty and subsea pipeline system capable of berthing large vessels that will increase the delivery capacity and offloading efficiency of petroleum products into major petroleum marketers’ storage facilities at Apapa, Lagos.

Its other businesses primarily consist of Ebony Oil & Gas Limited, the Ghanaian supply and trading entity with a provisional bulk distribution company license supplying white products.

Pursuant to the Acquisition, a special purpose vehicle will hold 100 percent of the economic interests and 49 percent of the voting rights of Oando Downstream. 

Oando plc is the largest integrated energy solutions group in Sub-Saharan Africa, with a primary and secondary listing on the Nigerian Stock Exchange and the Johannesburg Stock Exchange respectively. It also has an upstream listing on the Toronto Stock Exchange. The company has a market capitalisation of over $1 billion and 2013 revenues of $2.9 billion. 

Oando Plc has emerged as Nigeria’s leading indigenous energy company with fully integrated operations in the upstream, midstream and downstream divisions of the oil and gas sector. The group, through its exploration and production subsidiaries, holds interests in 19 licenses for the production, exploration, and development of oil and gas assets located onshore, swamp, and deep offshore. Its energy services business is an indigenous provider of oilfield services to operators in the oil and gas industry in Nigeria.

Oando Gas & Power is the largest private sector natural gas distributor and developer of Nigeria’s foremost natural gas distribution network, distributing and selling natural gas to industrial and commercial off-takers in Nigeria; in addition to developing and operating power plants. The downstream division consists of Oando Marketing, Oando Supply and Trading and Oando Terminals, which together are the leading indigenous suppliers and marketers of petroleum products in Sub-Saharan Africa.

The company is led by a highly skilled and experienced management team and labour force with a successful track record and wealth of cognate and relevant Oil & Gas experience across the industry.

Helios Investment Partners is an Africa-focused investment firm managing funds totaling over $3 billion. Helios’ diverse LP base comprises a broad range of the world’s leading investors, including sovereign wealth funds, corporate and public pension funds, endowments and foundations, funds of funds, family offices and development finance institutions across the US, Europe, Asia and Africa.

The Vitol Group was founded in 1966 in Rotterdam, the Netherlands. Since then, the company has grown significantly to become a major participant in world commodity markets and is now the world’s largest independent energy trader.

HEAD OFFICE

The Wings Complex
17a Ozumba Mbadiwe,
Victoria Island,
Lagos, Nigeria.
Tel: 234-1-2702400
E-mail: info@oandoplc.com

DUBAI OFFICE

Unit 803, One JLT, Jumeirah Lakes Towers,
Dubai. UAE.
Tel: +971 4 551 5081
Email: info@oandotrading.bm

ABUJA OFFICE

1st Floor Right Wing,
Clan Place Plot 1386,
Tigris Crescent,
Off Aguiyi Ironsi Street,
Maitama, Abuja Nigeria.

SOUTH AFRICA OFFICE

2nd Floor,
The Place Office Park,
1 Sandton Drive,
Sandton Guateng,
South Africa.

LIAISON OFFICE

50 Curzon Street,
London, W1J 7UW,
United Kingdom.
Tel: 44-207-297-4280-7
Fax: 44-207-499-5375

OVH ENERGY OFFICE

8 Kayode Street,Apapa,
Lagos, Nigeria

Tel: 234-1-2601290 – 9

 

Oando Togo SA is a private company operating within the energy sector focusing on oil & gas refining & marketing. Oando Togo SA is based in Lome, Togo and was established in March 1993.

Oando Togo SA
142, Rue 42 Enface De L’Hotel,Sakarawa Ablogame,Lome, Togo.
+228 2 275946

 

Company contact information
Oando
2 street Ajose Adeogun
NG- Lagos
NigeriaPhone : +234 1 270 2400
Fax : +234
Internet : http://www.oandoplc.com

Shareholders
Name Equities %
Ocean & Oil Development Partners Ltd. 6,734,943,086 54.2%
Ocean & Oil Holdings Ltd. 159,701,243 1.28%
Global X Management Co. LLC 87,944,905 0.71%
Parametric Portfolio Associates LLC 48,772,222 0.39%
Old Mutual Customised Solutions (Pty) Ltd. 11,035,680 0.089%
BlackRock Fund Advisors 10,366,111 0.083%
Equities
Vote  Quantity Float Company-owned shares Total Float
Share A 1 12,431,412,481 5,681,707,400 45.7% 0 0.0% 45.7%

Major shareholders of Oando Plc, a major oil and gas company in Nigeria, are making moves to oust the company’s board as well as the management led by Mr Wale Tinubu.

The major shareholders, Ansbury Investment Incorporated and Alhaji Dairu Manga, made their intention known in separate petitions to the Securities and Exchange Commission (SEC).

Oando, in a statement issued last week, confirmed the petitions and said the SEC was already investigating the matter.

Both Ansbury and Manga allege gross abuse of corporate governance and financial mismanagement, their reasons for calling for the removal of the management team and sack of all board members.

Mangu, who is said to own about 17.9 per cent share of the company, expressed his displeasure about the management of the company, especially the handling of the ConocoPhillips transaction.

Ansbury, on the other hand, had raised serious concerns about the capacity of the management team to effectively run the company.

Ansbury claimed ownership of 61.9 per cent of the British Virgin Island-based company, Ocean and Oil Development Partners Ltd (OODP BVI) while the remaining 38.10 per cent is owned by Withmore. The two companies control 99.99 per cent of Ocean and Oil Development Partners Nigeria Ltd (OODP Nigeria). OODP Nigeria controls 55.96 per cent of Oando Plc. So, indirectly Ansbury Investment Incorporated owns 55.96 per cent of Oando jointly with Withmore Nigeria.

According to Ansbury in its petition, “Strong uncertainty regarding the going concern of the group (Oando) had already arisen in 2015 and strengthened in 2016 as pointed out by the auditors in their report.”

Ansbury added that “In the previous financial statement, the management had proceeded to liquidate part of the assets of the company and many are going to be liquidated, and in particular, under the notes to the account, management intends to sell its participation in OER (the last asset attributable to the company) in the name of restructuring or reestablishing the group’s going concern.”

Ansbury then called on SEC “to urgently look into all the issues and prevail on the board of Oando to convene an Extraordinary General Meeting (EGM) in order to change the current management and board of the company.”

It also asked the regulatory body to allow Ansbury, in its capacity as an indirect majority shareholder of the company to intervene in the management of the company through its team and consultants, alleging that it had been sidelined on the board and in the management through the deliberate frustration of efforts to constitute a board for OODP Nigeria, the vehicle that could earn it its place on the board of Oando.

SEC acknowledged the petition and commenced investigations into the allegations.

But while investigation was ongoing, Ansbury sent another letter to SEC penultimate week asking it to postpone Oando’s Annual General Meeting slated for September 11 in Uyo pending the resolution of the company’s shareholding matter.

Ansbury claimed in the letter that it “holds 61.90 per cent of the shareholding in OODP BVI, which in turn holds 99.99 per cent of the shares in OODP Nigeria, which in turn holds approximately 56 per cent of Oando shares. Notwithstanding this, Ansbury has no visibility of, or input in the management of Oando, or in fact OODP Nigeria.”

The company expressed concern that Withmore “will improperly vote OODP Nigeria’s Oando shares without Ansbury’s input.”

Following this letter, SEC set up an 11-man committee to look into the claims of Ansbury.

The committee was chaired by Mr Charles Udorah, a private legal practitioner and a former Commissioner, Legal and Enforcement of SEC.

Nigerian Tribune gathered that after listening to all the parties on August 30, 2017, the committee noted that it might be difficult to postpone the AGM because of the nearness of the date. It added that minority shareholders are entitled to attend and vote at meetings and based on the statutory provision on quorum of meetings of AGM, the minority shareholders can successfully form a quorum and hold a valid meeting without the majority shareholders.

It also stated that Ansbury’s request to postpone the meeting would constitute SEC into a court of law, thus asking the company to seek redress in a court of law, adding that suspending the AGM is not likely to resolve or aid the resolution of the issues raised in the resolution.

The committee, however, assured Ansbury that SEC was working on its petition “and will continue to investigate the issues raised by Ansbury to a logical conclusion.”

In a statement issued by Oando, the oil company acknowledged that “two petitions were filed with the Securities and Exchange Commission (SEC) alleging gross abuse of corporate governance and financial mismanagement. The SEC has since commenced an enquiry in response to the petitions.”

Oando added that the petitions had “no merit as the issues raised have received board, shareholder and, where required, SEC approval. Other matters highlighted by the petitioners could have been directed to the company and would have received the necessary clarification.”

It noted that Ansbury Inc “is not a shareholder of the company, but a shareholder in a company domiciled in a jurisdiction outside Nigeria which in turn holds shares in a Nigerian investment company that is a shareholder in Oando; and Alhaji Dahiru Mangal is an individual who requested clarification from the SEC on issues which he could easily have obtained from the company and indicated in his petition to the SEC that he holds a 17.9 per cent interest in Oando. However, based on the company’s register of members maintained by, First Registrars & Investor Services Limited , he owns approximately 4 per cent of Oando Plc’s shares in his personal capacity. He is yet to disclose beneficial ownership of 13.9% in accordance with Section 95 of the Companies and Allied Matters Act, Cap. C20 LFN 2004 (‘CAMA’); failure to do so is a violation of CAMA and this has been flagged by the company in writing to Alhaji Mangal and the SEC since Wednesday, 24th May, 2017

By: Sulaimon Olanrewaju
Tribune News

 

HRM. Oba A. Gbadebo, CFR (Chairman, Non-Executive Director)
Mr. J.A.Tinubu (Group Chief Executive)
Mr. O. Boyo (Deputy Group Chief Executive)
Mr. B. Osunsanya (Group Executive Director)
Mr. Olufemi Adeyemo (Group Executive Director -Finance)
Mr. Oghogho Akpata (Non-executive Director )
Ammuna Lawan Ali (Non-executive Director )
Chief Sena Anthony (Non-executive Director )
Ms. Nana Afoah Appiah-Korang (Non-executive Director )- Resigned June 30, 2015
Mr. Francesco Cuzzocrea (Non-executive Director )- Resigned February 16, 2016
Engr. Yusuf K.J N’jie (Non-executive Director )
Tanimu Yakubu (Non-executive Director )- Appointed June 30, 2015

Résultat de recherche d'images pour "Francesco Cuzzocrea"

Francesco Cuzzocrea

Francesco Cuzzocrea serves as the President and Partner of Albion Finance S.A, Lugano. Mr. Cuzzocrea served as a Senior Vice President of Lehman Brothers Lugano, Milan responsible for the Institutional Equities’ Sales Desk. He also worked at IBI Bank in Zurich as Deputy Chief Executive Officer in charge of the Private Banking and Asset Management Department resigning in 2005. He started his banking career with Credit Suisse in August 1976. Mr. Cuzzocrea has over three decades’ experience in Private amp, amp, Investment Banking, Finance and Portfolio Management. A core professional, Mr. Cuzzocrea’s areas of expertise include – Private Banking, Portfolio amp; amp; Asset Management and Advisory Services. He served as Non-Executive Director of Oando PLC from July 25, 2013 to February 19, 2016. He serves as a Independent Non-Executive Director of Heritage Banking Company Limited. Mr. Cuzzocrea is member of the Swiss Bankers Association and the Swiss Society of Financial Analyst and Portfolio Managers.

Albion Finance SA
Corso Elvezia 4
6901 Lugano Switzerland
Tel +41 91 910 41 50
Fax +41 91 922 56 32

info@albion-finance.com

Corporate Headquarters*

The Wings Office Complex
Lagos, — —Nigeria

Phone: 234 1 2702400
Fax: —

Board Members Memberships*

Director

Education*

There is no Education data available.

Other Affiliations*

Bankers Access Bank Plc.
BNP Paribas
Citibank Nigeria Limited
Citibank, UK
Diamond Bank Plc.
Ecobank Nigeria Plc.
Enterprise Bank Limited
Fidelity Bank Plc.
First Bank of Nigeria Limited
First City Monument Bank Plc.
First Bank UK
Guaranty Trust Bank Plc.
Heritage Bank Plc.
Keystone Bank Limited
Mainstreet Bank Limited
Natixis Bank
Stanbic IBTC Bank Plc.
Standard Bank Plc.
Standard Bank Plc., UK
Standard Chartered Bank Nigeria Limited
Standard Chartered Bank Plc., UK
Sterling Bank Plc.
Union Bank Plc.
United Bank for Africa Plc.
United Bank for Africa, New York
Unity Bank Plc.
Wema Bank Plc.
Zenith Bank (UK) Limited
Zenith Bank Plc.
African Export-Import Bank
Industrial and Commercial Bank of China Ltd
Rand Merchant Bank Limited
The Standard Bank of South Africa Ltd
Societe Generale S.A
First Atlantic Bank Limited
The Royal Bank Limited
Unibank Ghana Limited
GCB Bank Ghana Limited
Barclays Bank Ghana Limited
Prudential Bank Ghana Limited
HFC Bank Ghana Limited
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