Impact completed the acquisition of a majority stake in Africa Energy for $79m.

Impact Oil and Gas, a privately-owned, African-focused exploration company completed the acquisition of a majority stake in Africa Energy, a privately owned oil and gas exploration company, for $79m. Under the Investment Agreement, Impact has the right, for so long as it holds not less than 10% of the common shares in the capital of Africa Energy and subject to the terms and conditions of the Investment Agreement, to appoint one nominee to the board of directors of Africa Energy.