Diversified Nigerian energy company Oando Plc hopes to raise $250 million by floating a minority stake in its local fuel retail arm on the Lagos bourse by September.
The sale of up to 49 percent of the country's biggest fuel retailer, valued at $500 million by chief executive Wale Tinubu on Monday, is part of Oando's plans to transform itself into a major upstream energy company in Africa's biggest oil producer.
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