Library / PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM PREVENTION OF ANTICOMPETITIVE PRACTICES AND BEHAVIOUR REGULATIONS, 2026 ARRANGEMENT OF REGULATIONS

PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM PREVENTION OF ANTICOMPETITIVE PRACTICES AND BEHAVIOUR REGULATIONS, 2026 ARRANGEMENT OF REGULATIONS

Page 89 of 127

Open the PDF at page 89

89 
 
    •    Annual Turnover (last 3 years): 
    •    Market Segments Participated In: 
    •    Licences Held under the Petroleum Industry Act: 
 
B2. Target Party (or Parties): 
    •    Legal Name: 
    •    Business Address: 
    •    Shareholding Structure (Pre-merger): 
    •    Parent Companies and Ultimate Beneficial Owners: 
    •    Principal Activities in the Petroleum Sector (Midstream/Downstream): 
    •    Licences Held under the PIA: 
    •    Annual Turnover (last 3 years): 
    •    Market Segments Participated In: 
    •    Key Infrastructure Owned/Controlled (e.g., depots, pipelines, gas 
distribution networks): 
 
B3. Other Parties (Joint Venture Partners, Minority Owners, etc.): 
    •    Provide legal names, roles, and shareholdings. 
 
SECTION C: TRANSACTION STRUCTURE AND PURPOSE 
 
C1. Description of the Transaction: 
Provide a detailed narrative including: 
    •    Form of the transaction (share purchase, asset transfer, merger, etc.) 
    •    Corporate steps to be undertaken 
    •    Nature and degree of control being acquired 
    •    Whether full-function joint venture or partial acquisition 
    •    Transfer of operational control, voting rights, or board influence 
 
C2. Transaction Rationale and Strategic Purpose: 
Explain the commercial rationale (e.g., market expansion, infrastructure 
optimization, downstream integration). 
 
C3. Value of Transaction: 
    •    Purchase Price/Transaction Value (in Naira/USD): 
    •    Basis of Valuation: 
    •    Attach Sale and Purchase Agreement (SPA), Memorandum of 
Understanding (MoU), Board Resolutions, or other legal documents. 
 
C4. Timing: 
    •    Expected Timeline for Closing: 
    •    Regulatory and Shareholder Approvals Required (Local and 
International): 
    •    Any Conditions Precedent: 
 
SECTION D: MARKET IMPACT AND COMPETITIVE ASSESSMENT