Africa Energy restructures Main Street deal, targets 75% stake in Block 11B/12B
Bitget2026/09/29 21:30- Africa Energy restructured its investment agreements with Arostyle for Main Street, extending the long-stop date to Dec. 31, 2028.
- Main Street is set to receive the joint venture’s remaining 90% stake in Block 11B/12B, lifting its holding to 100% pending approvals.
- Africa Energy will buy Arostyle’s 51% stake in Main Street, taking 100% of common shares plus 100% of Class B shares.
- Main Street will transfer 25% of Block 11B/12B to Arostyle, leaving Africa Energy with a 75% participating interest.
- All interparty loan claims will be settled in full, subject to regulatory approvals including Section 11 transfer consent.
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