Deals - Jan 12, 2026

Asafo & Co. has advised BlueCore Gas InfraCo Limited (“BlueCore”), a strategic consortium focused on gas and power infrastructure development, on its acquisition of Axxela Limited (“Axxela”), a leading Nigerian natural gas distribution and power infrastructure platform.

The transaction involved the acquisition of a 75% stake in Axxela from Helios Investment Partners, alongside the sale by Sojitz Corporation of its 25% interest pursuant to its tag-along rights, resulting in the complete transfer of ownership to BlueCore.

BlueCore brings together Afrigaz Energie, Levene Energy Development, emPERSAND, and energy&LLP, a strategic alliance focused on accelerating the development of critical gas and power infrastructure across Nigeria and the broader West African region.

This acquisition is expected to support the expansion of cleaner and more dependable energy solutions, strengthen domestic gas utilisation, and reinforce Axxela’s position as a core platform in the region’s evolving energy landscape.

The Asafo & Co. team advising on the transaction was led by partner Weyinmi Popo who was assisted by partner Simon Ratledge and associate Philippe-Olivier Lauriano do Rego.