Helios/Vitol consortium concludes acquisition of majority stake in Oando downstream business

Oando PLC (“Oando” or the “Group”), Nigeria’s leading indigenous energy group, listed on both the Nigerian and Johannesburg Stock Exchange, has announced a $210 million recapitalization of its downstream operations by HV Investments II B.V., (“HVI”), a joint venture owned by Helios Investment Partners (“Helios”), a premier Africa-focused private investment firm and the Vitol Group (“Vitol”), the world’s largest independent trader of energy commodities (together, the “Consortium”).