Majority shareholders of Premier Paints Plc are in advanced discussions with Xenergi Limited regarding a potential acquisition that would grant the energy firm a controlling interest in the paint manufacturer. The proposed deal, if finalized, would see Xenergi acquire a 51 percent equity stake, comprising approximately 63 million shares.

The negotiations involve Clover Global Resources Limited, which currently holds a 39.02 percent shareholding, and TGHL Capital Limited, owning 15.20 percent. This significant divestment was formally disclosed to the Nigerian Exchange (NGX), shareholders, and the wider investing community, and is contingent upon receiving necessary regulatory approvals.

Parties involved anticipate the transaction to be completed by January 31, 2026. Premier Paints Plc is a key player in Nigeria’s paint industry, serving decorative, industrial, and commercial sectors. Its comprehensive product range includes paints for marine, automotive, wood, and road marking applications, alongside solvent-based options.

The company, a subsidiary of Trans Global Holding Limited, is listed on the NGX under the Industrial Goods sector, specifically within the Building Materials subsector. As of recent disclosures, Premier Paints boasts a market capitalization of approximately N1.23 billion, with 123 million outstanding shares.

Xenergi Limited, an entity within the Oildata Energy Group, focuses on transforming natural gas into cleaner energy products such as liquefied petroleum gas (LPG) and propane. This acquisition would position Xenergi to exert substantial influence over Premier Paints’ operational strategies, board composition, and future expansion initiatives.

This development occurs while Premier Paints’ shares remain suspended from trading on the NGX. Trading was halted on July 1, 2022, due to the company’s failure to submit its audited financial statements for the fiscal year ending December 31, 2021, a breach of post-listing disclosure requirements.

The suspension, enforced by Nigerian Exchange Regulation Limited (NGX RegCo), continues as of December 2025, with no trading activity recorded since the halt. Premier Paints’ shares were last valued at N10 per share prior to the trading suspension.

In its most recent financial update filed with the NGX, Premier Paints reported a pretax profit of N565,000 for the fourth quarter of 2024. This marks a positive turnaround from a year-on-year loss of N8.2 million recorded in the corresponding period of the previous year.

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Keywords: Premier Paints Xenergi deal, Xenergi acquires Premier Paints, Nigerian paint industry acquisition, Oildata Energy Group expansion, NGX listed company sale, Clover Global Resources divestment, TGHL Capital stake sale, energy sector investment Nigeria