Oando surges 10 pct on approval for $1.65 bln ConocoPhillips' Nigeria deal

Fri Jun 20, 2014 6:56am EDT
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LAGOS, June 20 (Reuters) - Shares in Oando Plc rose the maximum 10 percent allowed on the Nigerian stock exchange on Friday, after the oil firm said it had won government approval to complete a $1.65 billion acquisition of ConocoPhillips' Nigerian assets.

Oando, which has triple listings in Johannesburg and Toronto, rose to 30.37 naira ($0.19) per share.

Oando said late on June 18 it had received government approval to complete the deal. ($1 = 163.05 naira) (Reporting by Chijioke Ohuocha. Editing by Jane Merriman)