Standard Bank has arranged a $285 million structured financing package to enable BlueCore Gas InfraCo to acquire Glover Gas & Power, the sole owner of Axxela – a major natural gas distributor in Nigeria.
Axxela is one of West Africa’s largest private gas distributors, operating across the natural gas value chain and supplying energy solutions to industrial and commercial customers.
The transaction brings together a strategic consortium backing BlueCore, including firms with experience in gas pipelines, power generation and energy infrastructure, and reflects strong investor interest in expanding energy assets across Nigeria and the wider region.
Standard Bank said the financing helped navigate complex regulatory and multi-jurisdictional aspects of the deal, underscoring its sector knowledge and structured capital expertise in Africa’s energy market.
