(Ecofin Agency) - Helios Investment Partners, the private investment firm focused on Africa, has formed a joint venture (HV Investment) with the Swiss trading group Vitol to acquire the downstream operations of the energetic Nigerian group Oando Plc, we learn from the stakeholders press releases.

The operation for an overall value of US$461.3 million will be done partly with cash (US$ 276.8 million) with the remainder (US$ 184.5 million) settled by transferring the equivalent in shares of the joint venture to Oando. "This acquisition of shares will allow us to grow the size of our operations and progress to the next level, while strengthening our position downstream"  Wale Tinubu, CEO of Oando explained, specifying that the result of this disinvestment will be used to strengthen their oil operations upstream.

Concurrently with this announcement, we learn through an official communiqué that Helios had reached an agreement with the Swiss investment firm Spice Private Equity for the acquisition of a minority share in Africa Oil Corporation, a Canadian company working in oil exploration particularly in East Africa.

Spice Private Equity for its part indicated a commitment of up to US$ 5.5 million. It is worth noting that this minority shareholding represents 12.4% of AOC's capital and that the value of the investment announced by Helios in May 2015 was US$ 100 million.

These various commitments from Helios are in line with its ambitions for the African energy sector. In April 2015, Helios declared its intention of raising US$ 300 million for its first fund dedicated to the oil industry in Africa in order to profit from the drop in value for the companies operating in this sector, hit by the drop in crude oil price.