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Seven Energy International Limited receives $225 mln equity capital

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April 21
10:42 PM 2014

Seven Energy International Limited said that it has taken in an equity capital valued $225 million. The new fund was taken from multiple investors, reported Ventures Africa. Seven Energy plans to develop opportunities to strengthen the domestic energy market in the country through the supply of gas.

Singapore’s Temasek was among multiple investors which funded the company with $150 million. The investment was also participated by IFC African, Caribbean and Latin American fund pledged $30 million. Meanwhile, the International Finance Corporation invested $75 million.

Seven Energy chief Phillip Ihenacho said, “Seven Energy has developed a strong and strategically important position in the rapidly developing gas market in Nigeria.”

Ihenacho also added that he was pleased of the investment funded by the group of financiers including Temasek, IFC and the IFC ALAC Fund. As the group were all highly respected global financiers, Ihenacho said that their investments showed their confidence in Seven Energy’s vision to become the leading gas supplier in Nigeria.

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