Helios Acquires Oando’s Stake in Gas Firm Axxela

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Helios Investment Partners has acquired Axxela Limited, a Sub-Saharan African gas and power company, which formerly operated as Oando Gas and Power Limited after it bought the remaining shares Oando had in the business.

Before this latest acquisition of Oando‘s stakes in Axxela, Helios Investment earlier purchased the majority stakeholding in Axxela’s gas and power business in December 2016, leaving Oando with just 25 percent in the company at the time. The new acquisition means Helios Investment now has 100 percent ownership of the leading private equity firm, confirmed a report by Nairametrics.

In reaction to the deal, Bolaji Osunsanya, the Chief Executive Officer (CEO) of Axxela, said the acquisition positions his company on a global stage whilst exposing it to greater financial flexibility and access to capital going forward.

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