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CBO Capital Arranges U.S.$55 Million for Gas Plant Acquisition

July 30, 2014

Lagos based Private Equity Fund, Africa Capital Alliance, is providing equity investment support for acquisition of the Egbaoma Gas Processing Plant located in OML 38, from the Platform Petroleum/Newcross Joint Venture by Owel-Linkso Group.

CBO Capital Partners are sole financial advisors to the project sponsors, Owel-Linkso Group in the $55 million acquisition deal.

A statement by Chuka Mordi, director of CBO Capital Partners, on Wednesday, said the company is "pleased to support a project of this magnitude; it is in line with our investment philosophy of providing capital for the funding and growth of African businesses. We truly believe that infrastructural development, especially in the energy sector is extremely crucial to the economic growth of the country.

Commenting also, Charles Osezua, Chairman of Owel Linkso Group said: "Having pioneered gas and power sector development with Gas Link, our organization is committed to continuous development and expansion of infrastructure in the sector; through the Gas Train project, we intend to become leaders in the sector."

The statement noted that CBO Capital, a leading Investment and Project development firm based in Lagos, Nigeria, was established principally to service and support business growth in Africa. Its asset management subsidiary, CBO Investment Management (CBO IM) is currently raising a $200 millionPrivate Equity Fund, for investment across the West African region.

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Source: AllAfrica

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