- Created: Wednesday, 14 February 2018 23:26
- Written by Nasdaq GlobeNewswire
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LAGOS, Nigeria, Feb. 14, 2018 (GLOBE NEWSWIRE) -- Japaul Oil & Maritime Services PLC (JAPULOI:NL) (http://japaulgroup.com), an oil and maritime services company that is quoted on the Nigerian Stock Exchange, announces that it has entered into a binding commitment letter with Milost Global Inc for a financing facility of $350 million under the Mesa Fund 1, a global opportunity fund that is managed by Milost Global Inc. The financing was arranged and negotiated by Palewater Advisory Group Inc in New York and Banklink Africa Limited in Nigeria.
Paul Jegede, CEO of Japaul Oil & Maritime Services Limited, stated, “We are excited with this development and we appreciate Milost who has shown commitment to commence disbursement on the capital to be injected. This is an opportunity to optimize the potentialities in all areas of our businesses especially in areas of mining which the Japaul Group has diversified. With this Capital to be injected into our company, more businesse will be done and more returns are guaranteed for all the shareholders of our company. All glory belong to God.”
Senior Partner & CIO of Milost Global, Solly S. Asibey, stated, "Japaul has been a household name and a hidden gem in Nigeria for years. We are glad to have discovered this priceless company that boasts a tried, tested and astute leadership team. We are convinced that the world-class turnaround strategy of Japual, as well as its diversification strategy coupled with Milosts vertical integration portfolio and investment mix, will create tremendous value to all stakeholders moving forward.”
Kim Freeman, the Managing Partner & CEO of Milost Global Inc, also stated, “Kim Freeman, the Managing Partner & CEO of Milost Global Inc, also stated, “Our investment in Japaul represents Milost’s current strategy of investing in sustainable diversified vertical industries that support economic growth not only in Nigeria and Africa but worldwide. We see a great future for Japaul and it will be a privilege to invest in their many projects going forward."
About Japaul Oil & Maritime Services Limited
Japaul Oil and Maritime Services Plc is a Nigeria-based company engaged in marine businesses, oilfield operations and engineering constructions. The Company's services include offshore vessels owning and chartering; dredging and reclamation works; downstream petroleum marketing; pipeline/flowline constructions and repairs; infrastructural development; mining; engineering, procurement, installation and commissioning (EPIC), and marine logistics/equipment fabrication, leasing and repairs. The Company operates in Nigeria, the United Arab Emirates, Oman, India, the United States and Benin Republic. The Company, through its subsidiary, Japaul Energy Limited (JEL), is engaged in the trading of petroleum products around the West Coast of Africa. Its subsidiary, Japaul Mines and Products Limited, is a mining company whose quarries are located in Elegbeka, Ifon, Ondo State and Ibarakom Village, Forestry Road, Njagachang, Akampa, Cross Rivers State, Nigeria. www.japaulgroup.com
About Milost Global Inc
Milost Global Inc is an American Private Equity firm that is headquartered in New York City, with more than $25 billion in committed capital. Milost is at the intersection of creative investing and value creation. Milost is also a provider of alternative capital, mezzanine finance, and alternative lending to a broad range of industries across the globe including Technology, Transport, Cannabis, Education, Distribution, Mining, Oil & Gas, Financial Services, Healthcare, Pharmaceuticals, Real Estate, Alternative Energy and Infrastructure Development. www.milostglobal.com
About Palewater Advisory Group Inc.
Palewater Advisory Group is a multinational corporate and public affairs advisory firm with headquarters in New York. We specialise in cross-border and M&A transactions, financing, public affairs, political campaign capital raising and strategy. Collectively as the team, we have had an excellent track record with more than 1000 references in our line of advisory work. We have a robust and yet solid network of contacts with specific focus on certain core industries, investment and banking communities. Our directors, leaders, professionals, and senior advisors collectively provide access to senior industrial, political, economic, government and financial decision makers throughout the world.
We provide individual and personal advice and react swiftly to our clients’ needs, while always providing direct access to the team, including the partners involved. As a professional services firm, we provide the best possible advice based on confidentiality and total discretion. We are committed to the principles of integrity and client service, and operate free from any conflict of interest. www.palewateradvisory.com
About Banklink Limited
Banklink Limited (hereinafter referred to as “Banklink Africa” or “Banklink”) is a financial proprietary enterprise (with strategic subsidiaries and associates) incorporated in February 1999 in Nigeria – the heart of Africa.
From inception, our vision has remained “to create a financial and project proprietary firm that seeks to be the most trusted partner to our clients; servicing Banks and other financial institutions, entrepreneurs and investors, government and governmental agencies in the specific areas of capital raising, structured offshore finance, enterprise development, PPP project structuring and broad financial advisory”
In Banklink, we believe that Africa is a land of great opportunities and taking advantage of these for our clients remain our principal operating Focus. Albeit, with the engagement of the highest principles of ethical standards, corporate governance and transparency. www.baklinkafrica.com
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