Leading global law firm Herbert Smith Freehills has advised Enyo Retail and Supply Limited Holding and certain of its shareholders on the disposal of 100% of the share capital in Enyo Retail and Supply Limited ("Enyo") to Ardova Plc ("AP").
The transaction remains subject to regulatory approval.
Established in 2017, Enyo is one of the leading downstream oil and gas players in Nigeria. The company operates over 90 fuel stations across Nigeria attending to over 100,000 retail customers daily across 15 states of the country.
The Herbert Smith Freehills team was led by Paris energy partner and global co-head of the Africa practice, Nina Bowyer, who was supported by senior associate, Jeremy Griffin and associate, Chloë Stonex. Olaniwunajayi, a leading Nigerian law firm, provided Nigerian law support on the transaction.
This transaction is another example of Herbert Smith Freehills' market-leading work in the energy sector in Africa.