{"id":7357,"date":"2018-02-21T08:14:49","date_gmt":"2018-02-21T15:14:49","guid":{"rendered":"http:\/\/nigerianews.ca\/?p=7357"},"modified":"2018-02-21T08:14:50","modified_gmt":"2018-02-21T15:14:50","slug":"japaul-nigeria-receives-350-million-funding-from-milost-global","status":"publish","type":"post","link":"https:\/\/nigerianews.ca\/japaul-nigeria-receives-350-million-funding-from-milost-global\/","title":{"rendered":"Japaul Nigeria Receives $350 Million Funding From Milost Global"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7358\" src=\"https:\/\/nigerianews.ca\/wp-content\/uploads\/2018\/02\/0753A745-64B2-4503-B2B1-55D4ECA70927.jpeg\" alt=\"\" width=\"700\" height=\"400\" srcset=\"https:\/\/nigerianews.ca\/wp-content\/uploads\/2018\/02\/0753A745-64B2-4503-B2B1-55D4ECA70927.jpeg 700w, https:\/\/nigerianews.ca\/wp-content\/uploads\/2018\/02\/0753A745-64B2-4503-B2B1-55D4ECA70927-300x171.jpeg 300w, https:\/\/nigerianews.ca\/wp-content\/uploads\/2018\/02\/0753A745-64B2-4503-B2B1-55D4ECA70927-100x57.jpeg 100w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/>Japaul Nigeria Receives $350 Million Funding From Milost Global<\/p>\n<p>Japaul Oil &amp; Maritime Services Plc, a Nigerian oil-services company, said it signed an agreement with New York base private equity firm Milost Global Inc for $350 million in shares and loans for business expansion.<\/p>\n<p>Milost will invest $250 million in equity and add another $100 million in convertible loans, Japaul Chairman Jegede Paul said. The fresh injection of capital will enable the company to fix grounded vessels, finance new contracts and expand into mining, he said.<\/p>\n<p>Japaul\u2019s oil and gas operations suffered a setback with the 2014 plunge in crude prices, which forced exploration and production companies to scale back their activities. As prices are recovering, the company wants to take advantage of new business opportunities in the industry. The company plans to be able to absorb future oil and gas price shocks by\u00a0diversifying into mining, Paul said.<\/p>\n<p>The stock jumped 6 percent in Wednesday\u2019s trading at the Nigerian Stock Exchange in Lagos, the most since June 25, 2014, to close at 0.37 naira.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Japaul Nigeria Receives $350 Million Funding From Milost Global Japaul Oil &amp; Maritime Services Plc, a Nigerian oil-services company, said it signed an agreement with New York base private equity firm Milost Global Inc for $350 million in shares and loans for business expansion. Milost will invest $250 million in equity and add another $100 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