Seeking Alpha

Oando says it has secured the funds it needs for ConocoPhillips deal

Nigerian energy firm Oando (ONDOF) says it finally secured the funds it needs to to acquire the upstream oil and gas business of ConocoPhillips (COP) in the country.

Oando announced plans last week to raise ~$1.5B in its second attempt in a month to raise cash, causing speculation that it was struggling to close the $1.79B COP deal it agreed on more than a year ago.

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