Petroleum Africa
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Wednesday, December 6, 2017
Vivo Energy Holding B.V. agreed to enter into a share transaction with Engen Holdings, a 100% subsidiary of Engen Ltd., in relation to the purchase of shares in Engen International Holdings (Mauritius) Ltd. for the exchange of a shareholding in Vivo Energy, with a possible cash element. This transaction is subject to regulatory approval.
The deal will put Vivo Energy in nine new countries and add 300 Engen-branded service stations to its network, taking Vivo Energy’s total presence to over 2,100 service stations, across 24 African markets.
The new markets for Vivo Energy included in the transaction are DRC, Zimbabwe, Réunion, Zambia, Gabon, Rwanda, Mozambique, Tanzania and Malawi. Engen’s Kenya operations (where Vivo Energy already operates) are also part of this transaction.
Engen Holdings (Pty) Ltd will retain its interest in Engen Petroleum Ltd. (the South Africa business and refinery) and Engen’s businesses in Mauritius, Botswana, Ghana, Namibia, Swaziland and Lesotho, which are not part of this transaction.
Currently with over 1,800 service stations across 15 African markets Vivo Energy sources, distributes, markets and supplies Shell-branded fuels and lubricants to retail and commercial customers across the continent. Vivo Energy is jointly owned by the energy and commodities company Vitol and the Africa-focused private investment firm Helios Investment Partners.
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