Nigeria’s NIPCO Plc, controlled by Indian billionaire Ramesh Kansagra, is acquiring about 19% of London-listed Savannah Energy Plc, strengthening its presence in West Africa’s energy sector.
The deal, valued at around £28.7 million ($36.2 million), includes both new shares and secondary market purchases. Once completed, NIPCO will hold roughly 19.4% of Savannah’s enlarged share capital.
Savannah Energy, through its Accugas network, supplies gas to a major portion of Nigeria’s thermal power plants via a 200 MMscf/d facility and a 260 km pipeline system.
This stake gives NIPCO and the Kansagra family strategic exposure to Nigeria’s expanding gas infrastructure and revenues from domestic gas utilization.
Beyond fuel and gas, the Kansagra family’s interests span hospitality and mining, including a controlling stake in Capital Hotels Plc (Abuja Continental Hotel) and Kavango Resources Plc, a Southern Africa-focused metals and gold company.
