ǼLEX is pleased to have acted as legal adviser to GP Global, in connection with its successful acquisition of the lubricant assets of Grand Petroleum and Chemicals Limited (“Grand Petroleum”). The assets acquired include Grand Petroleum’s Hi-Speed brand and a 50,000 metric tonnes lubricant plant, including 6,000 kilo litres capacity storage tanks.
GP Global is a leading energy-to-agriculture conglomerate with operations in Asia, Middle East, Africa, Europe and Latin America. Grand Petroleum is a downstream petroleum company in Nigeria and part of the Nosak Group, a diversified business group with interests in key sectors of the Nigerian economy. The acquisition represented a strategic move to further strengthen and expand GP Global’s presence in Nigeria and West Africa and is expected to position the Group as one of the fastest-growing global lubricants and base oil businesses.
The ǼLEX team was led by Chinyerugo Ugoji (Partner) with support from Tiwalola Osazuwa (Senior Associate), Damilola Ogedengbe (Senior Associate), Onyinyechi Iwuoha (Senior Associate) and Rachael Ehima (Associate).
The team is currently providing post-transactional legal advice and assistance to its Nigerian subsidiary, Gulf Petrochem Energy Services Limited, with respect to its business operations.
Read more on the transaction here.