Oando Plc acquires majority interest in Equator Exploration Limited

In September 2009, Oando plc, an oil company quoted on the Nigerian and Johannesburg Stock Exchanges, acquired a majority interest in Equator Exploration Limited ("Equator"). The transaction involved complex restructuring and refinancing involving the acquisition of debt worth over US$100 million owed by Equator. Fasken Martineau LLP advised Oando plc in this transaction with a team led by Yomi Akinjide and David Smith.