{"id":6920,"date":"2026-01-12T11:27:55","date_gmt":"2026-01-12T11:27:55","guid":{"rendered":"https:\/\/ograsset.com\/?p=6920"},"modified":"2026-01-12T11:27:55","modified_gmt":"2026-01-12T11:27:55","slug":"maam-energys-750m-geregu-takeover-excites-investors","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/01\/12\/maam-energys-750m-geregu-takeover-excites-investors\/","title":{"rendered":"MA\u2019AM Energy\u2019s $750m Geregu takeover excites investors"},"content":{"rendered":"\n
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MA\u2019AM Energy\u2019s $750m Geregu takeover excites investors<\/h1>\n\n\n\n

The minority investor community and operators in the capital market have expressed optimism about the acquisition of majority shareholding in Geregu Power Plc by MA\u2019AM Energy Limited, saying it was a major boost for the power sector.<\/p>\n\n\n\n

The stakeholders in separate chats indicated that the MA\u2019AM Energy Limited takeover of Geregu Power, one of two power companies listed on the Nigerian Exchange Limited, might be the beginning of a new era for the Nigerian power sector.<\/p>\n\n\n\n

The PUNCH reported that the board of Geregu Power, in a corporate disclosure filed with the NGX, stated that the company\u2019s majority shareholder, Amperion Power Distribution Company Limited, owned by billionaire businessman Femi Otedola, had undergone a restructuring of its ownership following a share sale and acquisition concluded on 29 December 2025.<\/p>\n\n\n\n

With the transaction, MA\u2019AM Energy Limited acquired a 95 per cent equity interest in Amperion Power Distribution Company; thus, the indirect controlling interest in Geregu Power previously held by Calvados Global Services Limited and Otedola was transferred to MA\u2019AM Energy Limited.<\/p>\n\n\n\n

While the transaction did not involve the direct sale or transfer of shares of Geregu Power, the change in the ownership of the company\u2019s majority shareholder resulted in a change in the ultimate beneficial ownership of 77 per cent of Geregu Power\u2019s issued share capital. The deal was reportedly valued at $750m. The acquisition was financed by a consortium of Nigerian banks with Blackbirch Capital as the financial adviser.<\/p>\n\n\n\n

Speaking on the deal and likely impact on the power sector, the Managing Director of GTI Capital, Mr Kehinde Hassan, said the transaction set a new benchmark for power-generating company valuations in Nigeria.<\/p>\n\n\n\n

He said, \u201cIt is likely to influence future mergers and acquisitions, stimulate private equity interest, and reshape asset pricing across the power sector. Beyond Geregu, the deal carries broader implications for the Nigerian power industry. A $750m investment in a sector often labelled \u2018high-risk\u2019 sends a powerful signal about the underlying potential and long-term value of Nigeria\u2019s electricity market.<\/p>\n\n\n\n

\u201cThis could catalyse further GenCo and DisCo acquisitions, attract renewed interest from domestic institutional investors, and spur recapitalisation efforts across the value chain.\u201d<\/p>\n\n\n\n

Hassan also observed that the transaction came at a time when the Federal Government is planning a \u20a64tn power-sector liquidity fund, further positioning the sector as increasingly private equity friendly and a primary target for deeper financial participation.<\/p>\n\n\n\n

Despite the optimism, Hassan noted that the market may adopt a cautious, observant stance as it awaits clarity on the new owners\u2019 direction and whether the new leadership will maintain Geregu Power\u2019s dividend culture, operational efficiency and commitment to the expansion pipeline, including the proposed Geregu II and III projects.<\/p>\n\n\n\n

Managing Director of HighCap Securities, Mr David Adonri, echoed the same sentiment, noting that stakeholders are eagerly waiting for the new board\u2019s strategic plan.<\/p>\n\n\n\n

For those in the minority shareholders community, stronger value creation is the expectation.<\/p>\n\n\n\n

Commenting on the transaction, the National Coordinator of the Independent Shareholders Association of Nigeria, Mr Moses Igbrude, projected that the $750m transaction may trigger similar transactions in the sector.<\/p>\n\n\n\n

\u201cMy sincere appeal to them is for them to act in good faith and pilot the affairs of the company in a proper manner in line with good governance that brings benefit to all stakeholders,\u201d Igbrude charged.<\/p>\n\n\n\n

President of the Association for the Advancement of Rights of Nigerian Shareholders, Dr Faruk Umar, also believed that the size and nature of the deal were quite symbolic for the Nigerian economy, the power sector and the capital market.<\/p>\n\n\n\n

Umar said investment deserves commendation, describing it as a good response to President Bola Tinubu\u2019s quest to deepen domestic private investments.<\/p>\n\n\n\n

\u201cWhen Nigerians show willingness to participate in the country\u2019s infrastructural development, such a move carries not only the potential for value creation but also reinforcement of hope and confidence in the long-term outlook of the economy,\u201d he said.<\/p>\n\n\n\n

The AARNS president also urged the new owners to adopt best practices in stakeholders\u2019 management through fair consideration for all and inclusive engagement.<\/p>\n\n\n\n

MA\u2019AM Energy is an Abuja-based integrated energy company. With the change in beneficial ownership, the Otedola-led board resigned immediately, paving the way for the appointment of a new board of directors by MA\u2019AM Energy. The new board of directors is led by Senator Abdul-Aziz Yari, former Governor of Zamfara State and current Senator representing Zamfara West.  Other non-executive directors included Principal Partner at Abdulkadeer & Co., Abdulkadeer Njiddah, an expert in infrastructure and private financing solutions and a chartered accountant with a PhD in Finance, Usman Mohammed, and Chief Operations Officer at Advance Link Petroleum Limited, Mohammed Jaafaru.<\/p>\n\n\n\n

Others include a banker with over two decades of experience, Neka Adogu, and Mahmud Magaji, a Senior Advocate of Nigeria. Meanwhile, outgoing Chief Executive Officer Mr Akin Akinfemiwa and Deputy Chief Executive Officer Dr Julius Omodayo-Owotuga were retained to facilitate a smooth management transition, working with the newly appointed board.<\/p>\n\n\n\n

Meanwhile, in its 2025 third-quarter financials, Geregu Power recorded total revenue of N131.47bn, with Profit Before Tax at 37.46bn and Profit After Tax settling at N25.09bn, respectively. Total assets stood at N273.15bn by September 2025, higher than the N243.47bn recorded by December 2024.<\/p>\n\n\n\n

For the first quarter ending 31 March 2026, Geregu Power projected total revenue of N57.12bn within the three months. Gross profit was estimated at N22.88bn, while operating profit, profit before tax and profit after tax were expected at N18.12bn, N17.06bn and N12.03bn, respectively.<\/em><\/p>\n\n\n\n

Source:<\/em>https:\/\/punchng.com\/maam-energys-750m-geregu-takeover-excites-investors\/<\/em><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

MA\u2019AM Energy\u2019s $750m Geregu takeover excites investors The minority investor community and operators in the capital market have expressed optimism about the acquisition of majority shareholding in Geregu Power Plc by MA\u2019AM Energy Limited, saying it was a major boost for the power sector. The stakeholders in separate chats indicated that the MA\u2019AM Energy Limited… <\/p>\n

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