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, …