Forte Oil To Sell Its Power And Upstream Business

Forte Oil PLC has entered into share sale and purchase agreements to sell its power and upstream businesses in continuation of complicated divestment programme

The company at the weekend notified the Nigerian Stock Exchange that it has entered into the agreement with Calvados Global Services Limited for the sale of its Power Distribution Company, Amperion Power Distribution Company Limited.

Forte Oil has also entered into share sale and purchase agreement with Gbonka Oil and Gas Limited for the divestment and sale of its shares in Forte Upstream Services Limited.

The two new agreements came as the indigenous energy group confirmed the conclusion of the sale  of its shares in AP Oil and Gas Ghana Limited to Cobalt International Services (Ghana) Limited.

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