Nigeria, Oct. 25 -- Lagos-listed Aradel Holdings is snapping up a 40 per cent equity stake held by Geneva-based Petrolin Trading Limited in ND Western.

The company is one of its four consortium partners in the deal that bought Shell's Nigerian onshore assets this year for $2.4 billion.

"Upon completion of this transaction, Aradel's total shareholding in NDW will significantly increase, reinforcing its strategic position within Nigeria's upstream oil and gas sector," a regulatory disclosure said on Friday.

Petrolin Trading Limited is part of Petrolin Group, founded in the UK by Beninese oilman, Samuel Dossou-Aworet.

Aradel's shareholding in ND Western is already 41.7 per cent, meaning its potential 81.7 per cent stake in the target com...