DEALS | 29 MARCH 2019 Funding that makes a shared future possible Absa | Corporate and Investment Banking > Insights and Events > Funding that makes a shared future possible SHARE Funding partner to Heirs Holdings and Transcorp, for their USD 1.1 billion acquisition of OML 17. We are proud to have showcased our continued support for the Natural Resources and Energy sector in Africa, in particular the Nigerian upstream sector, where Absa has an enviable track record in funding world class operators. This transaction, which is the largest oil and gas M&A deal in Africa in recent times, will enhance economic development in Nigeria and strengthen Heirs Holdings and Transcorp's impact on local communities. Some of the transactions we concluded in the oil and gas sector include: Funding NLNG Train 7 in Nigeria JV funding for SPDC, Eni, Total, NNPC and Chevron for various onshore and offshore assets in Nigeria Support for Prime Oil & Gas via a RBL facility for its Nigerian offshore assets Absa has also been active in funding the landmark Mozambique LNG transaction “This landmark transaction showcases our continued support for the Natural Resources and Energy sector in Africa. It will enable further infrastructure development within the Niger Delta and create local employment” – Johan Koorts, Senior Banker, Absa CIB. Contact Theuns Ehlers, Head of Resource and Project Finance to find out more. https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles Financial Sector Insights Technology transforming finance: The state of play in Africa Africa is emerging as a hotspot for innovation in financial ecosystems. Read more Financial Sector Insights New entrants are disrupting the financial institutions group sector Challenger entrants are changing the face of the FIG sector, impacting this year’s significant trends. Read more Financial Sector Insights Room for consolidation in the insurance sector in Africa The insurance sector in South Africa could benefit from the consolidation of small, independent and unprofitable brands into bigger and stronger players. Read more
