Helios Investment Partners Agrees to Invest US$100 Million in Africa Oil (Sub-Saharan Africa)

Source: Africa Oil, Helios Investment Partners

Pan-African private investment firm Helios Investment Partners has agreed to invest US$100 million for a 12.4 percent stake in Stockholm- and Toronto-listed Africa Oil, an oil and gas company with assets in Kenya, Ethiopia and Somalia. Africa Oil intends to use the capital to help finance its ongoing appraisal and development work in East Africa. The transaction, which is subject to regulatory approval and other customary conditions, is expected to close in late May 2015.