Nigeria’s Oando converts $218.9m loan to Canadian unit to equity
LAGOS (Reuters) – Nigeria’s Oando Plc has converted a $218.9 million loan to its Toronto-listed unit Oando Energy Resources to equity, to increase its stake in the subsidiary by 1.6 percent to 93.6 percent, it said on Thursday. Oando said the debt is part of a $1.2 billion facility it approved for its subsidiary in February to help finance … Read more