Ladi jadesimi biography of martin

Key Points

• Aradel Holdings obtains approval for $2.4 billion Shell divestment deal, paving the way for ownership transfer.
• The deal includes $1.3 billion direct payment and $1.1 billion in additional considerations, boosting Aradel's market standing.
• Ladi Jadesimi's leadership propels Aradel Holdings to N3.17 trillion ($2 billion) market cap, reshaping Nigeria’s energy future.

Aradel Holdings Plc, a leading Nigerian oil and gas company listed on the Nigerian Exchange (NGX) and chaired by Ladi Jadesimi, has secured ministerial consent for its $2.4 billion acquisition of The Shell Petroleum Development Company of Nigeria (SPDC).

Initially announced in January 2024, the acquisition sees Aradel's consortium—comprising Renaissance Africa Energy, ND Western, Aradel Energy, Petrolin Group, FIRST Exploration, and Waltersmith Group—gain full control of SPDC.

The deal is structured with a direct payment of $1.3 b