FOLLOWING the successful completion of the acquisition process of 60 per cent equity stake of ExxonMobil in Mobil Oil Nigeria Plc (MON) by Nipco PLC, the new management has announced a change of name to Double One (11) Plc.Speaking on the new development, the Group Managing Director, Venkataraman Venkatapathy, said the change of name was in furtherance of Nipco’s agreement with ExxonMobil while the company still retains its brand.According to Venkatapathy who was before now, Managing Director, Nipco PLC, the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) have given their statutory approval of the deal.“With the acquisition now completed, Nipco will review the two existing business models with an intent to synchronize and harmonize their operations”, he said Venkatapathy said Nipco’s intention is to allow each entity to function independently.“Nipco intends ultimately, that each of the entities will remain and function independently.Running the two entities separately will engender financial and strategic merits.

Focus will now be placed on expansion of the retail footprint under Mobil brand,” he said.He explained that concerted efforts would be deployed toward promoting Mobil brand of lubricants in Nigeria to ensure that it captures a much larger national market share, while also ensuring that it continues to retain its pivotal position as the premium lubricant brand in Nigeria.He pledged that Nipco would strive to justify the implicit confidence reposed in it by ensuring strict adherence to the Mobil brand.NIPCO Investments Limited Completes N90bn Acquisition of ExxonMobil’s Stake in Mobil Oil Nigeria Plc Stock & Analyst Updates 1785 VIEWS Tuesday, April 4, 2017 8:15 AM/ Cordros Capital Following the approval of the Securities and Exchange Commission (SEC) and The Nigerian Stock Exchange (NSE), NIPCO Investments Limited (NIPCO), a wholly owned subsidiary of NIPCO Plc, in a trade executed on the floor of the Nigerian Stock Exchange on Friday 31st March 2017, completed the acquisition of ExxonMobil Oil Corporation’s stake in Mobil Oil Nigeria Plc (NSE: MOBIL), in a deal worth N90 Billion and one of the biggest in the downstream sector in recent years.

CORDROS Securities Limited acted as the Execution Stockbroker to both ExxonMobil Oil Corporation and NIPCO Investments Limited for this transaction.NIPCO’s acquisition of the majority stake in MOBIL will serve as a significant breakthrough, which could bolster investors’ confidence and appetite in the sector, following the deregulation initiative of the Federal Government of Nigeria in the downstream oil and gas industry.möbel smart osloAlso, this strategic move by NIPCO will ensure the continuous growth and expansion of its Nigerian retail footprint, increase efficiency gains (economies of scale) whilst adding tremendous value to the downstream sector as a result of this notable transaction.möbel smart osloNIPCO is required, by The Investment and Securities Act, to make a takeover bid to all minority shareholders of Mobil Oil Nigeria Plc, having acquired 60% of MOBIL shares.möbel paderborn riemekestr

Our correspondence has gathered from reliable sources that the Board of NIPCO has made an application to SEC for a Takeover Bid of minority shareholders stake in Mobil Oil Nigeria Plc and has received SEC’s “Authority to Proceed” with the Takeover Bid at the same price of N417.12 the acquisition was carried out.mobel verkaufen julichThe shares of MOBIL currently trade at N300 in the stock market, this is a 40% premium to existing shareholders.mobel kaufen auf rechnung ohne schufaNIPCO, (previously called IPMAN Petroleum Marketing Company Limited), was incorporated on 8th January 2001 as an indigenous oil and gas company operating in the downstream sector of the Nigerian oil and gas industry.mobelgeschafte in nurnbergNIPCO Plc is committed to meeting the needs of all stakeholders in the deregulated downstream sector of the Oil & Gas industry by providing quality services in petroleum product storage and handling in an environment that is friendly, safe and dignifying and become an integrated Oil & Gas company by venturing into the upstream sector.möbel manufaktur dortmund

ExxonMobil Oil Corporation (EMOC) evolved from a regional marketer of kerosene in the United States of America (“US”) to the largest publicly traded petroleum and petrochemical enterprise in the world.EMOC operates in most countries in the world and is best known by its familiar brand names: Exxon, Esso and Mobil.poco möbel stuttgartThe Company makes the products that drive modern transportation, power cities, lubricate industry and provide petrochemical building blocks that lead to thousands of consumer goods.mobel 3pEMOC is the world's biggest publicly traded oil and gas company, and one of the world's biggest companies in any industry.Files Application with SEC for An Authority to Proceed with the Acquisition of MOBIL 2.MOBIL Declares N5.74 bn Profit in Q3 16 Result SP N190.00k 3.Divestment of Shares by ExxonMobil Oil Corporation from Mobil Oil Nigeria Plc 4.

Mobil Nigeria Plc Q2 16 - Sturdy sales and rental income buoy higher margins 5.MOBIL Declares N4.42 bn Profit in Q2 16 Result SP N162.00k 6.Mobil Oil Nigeria Plc Records 80% Sales Growth YoY in Q2'16 7.MOBIL Outlook improves in Q1 16 despite product scarcity 8.MOBIL Q1 revenue hits 4-year high 9.MOBIL Declares N1.82 bn Profit in Q1 16 Result SP N155.00k 10.MOBIL: Tough Trading Environment Offset by Real Estate; Maintains Neutral Rating 11.MOBIL: Opex up by 17% in Q4’15 Results; Shares Rated Neutral 12.MOBIL Declares N4.87 bn Profit; Proposes 720k Dividend in 2015 Audited Result,(SP:N156.00k) 13.MOBIL Q3 Sales Decline by 27 YoY Stock Rated NEUTRAL Nigeria in 1min: Economic, Business & Financial Headlines – 040417 OANDO Declares N3.49bn Profit for the year 2016,(SP:N4.94k) OMOSAVBNK Declares N70.88 mln PAT in 2016 Audited Result,(SP:N0.90k) PHARMDEKO Declares N218.70 million Loss in 2016 Audited Results,(SP:N1.95k)Company Name Mobil Oil Nigeria Plc Head Office Mobil House Lekki Expressway, Victoria Island, Lagos.

Tel: 234-01-2621640, 2621660, 2801600 Fax: 234-01-2801607 Cable: Mobil Oil Telex: 22608 and 21228 Nature of Business Marketing of Petroleum products, Manufacturing of automotive /industrial Lubricants and Petroleum jelly Start of Operation December 31, 1951 Date Listed on Exchange July 25th 1991 Directors Adetunji A. Oyebanji (Chairman/MD) Engr.Mayen M. Adetiba (Non-Executive Director) Mr.Michel Gouzerh (Non-Executive Director) Mr.Abba Kyari (Non-Executive Director) Mr.Alastair J. MacNaughton (Executive Director (British) Mr.Henry Ikemefuna C. Obih Company Secretary Emmanuel O. Amade Auditors PricewaterhouseCoopers (Chartered Accountants) Plot 252E Muri Okunola Street Off Ajose Adeogun, P.Box 2419 Victoria Island, Lagos.Tel: Tel: +234 1 2711700 Ext 4004., Mobile: +234 12711700 Ext 1020 Company Registrars GTL Registrars Limited End of Accounting Year 31 December Outstanding Shares 360,595,262 Financial Results Click Here For Details Latest job vacancies online in Nigeria on the Jiji website