AFRICA Capital Alliance, a private equity fund, has concluded plans to provide equity investment support for the acquisition of the Egbaoma Gas Processing Plant located in OML 38, from the Platform Petroleum/Newcross Joint Venture by Owel-Linkso Group.
By the action, CBO Capital Partners has become sole financial advisors to the project sponsors, Owel-Linkso Group in the $55 million acquisition deal.
A statement by one of the Directors of CBO Capital Partners, Chuka Mordi, made available to The Guardian, 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."
The Chairman of Owel Linkso Group, Charles Osezua, added: "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."
However, the statement noted that the Lagos-based investment and project development company was established principally to service and support business growth in Africa.
Already, its asset management subsidiary, CBO Investment Management is currently raising a $200 millionPrivate Equity Fund, for investment across the West African region.