Afreximbank has disbursed a US$975m facility to partly finance the management buyout of Oryx Energies, the bank said on 28 October 2026, a deal led by chief executive Moussa Diao that buys out founder Jean Claude Gandur.
Why Oryx Energies management team led by CEO Moussa Diao is buying Oryx Energies SA (holding company of Addax Energy SA)
Afreximbank said the transaction brings Oryx Energies under majority African ownership for the first time. Diao said the company aims to strengthen its energy trading and infrastructure activities across Africa.
“This management buy-out marks an important milestone in the history of Oryx Energies”
Deal terms and financing
Afreximbank acted as sole lender, facility agent, security trustee and escrow agent. The total purchase price and the stake acquired were not disclosed; Bloomberg reported earlier in October that the deal valued the company at about US$1bn.
Market context
Oryx Energies, founded more than 35 years ago, supplies, stores and distributes fuels, LPG and lubricants and offers bunkering services in more than 20 African countries. Earlier in October it agreed to sell its Tanzanian downstream business to Amsons Group.
