Vivo Energy to spread network
The transaction does not affect Namibia as it is not included because the South African subsidiary of Engen Holdings will remain as is.
STAFF REPORTER
Vivo Energy has announced that it will enter into a share transaction with Engen Holdings Mauritius. Upon completion of this transaction, nine new countries and over 300 Engen-branded service stations will be added to Vivo Energy’s network, taking Vivo Energy’s total presence to over 2 100 service stations, across 24 African markets.
The transaction does not affect Namibia as it is not included as the South African subsidiary of Engen Holdings will remain as is.
The new markets for Vivo Energy included in the transaction are DR Congo, 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 will retain its interest in Engen Petroleum Limited which includes the South African business and refinery and Engen’s businesses in Mauritius, Botswana, Ghana, Namibia, Swaziland and Lesotho, which are not part of this transaction.
Commenting on the transaction Christian Chammas, CEO, Vivo Energy said this it will increase its network in new markets.
“In our first six years our shareholders have invested to grow Vivo Energy, increasing our network from around 1,300 to over 1,800 service stations and adding over 400 new and refurbished shops and quick service restaurant offers. I am delighted with today’s agreement with Engen which, subject to regulatory approval, will add a number of new African markets to our business so that we can offer high quality products and services to significantly more customers.”
Yusa Hassan, managing director and CEO of Engen, commented on the transaction saying both companies will build on each other’s strengths.
“Engen is excited to enter into this strategic undertaking with Vivo Energy, which is clearly aligned with our growth aspirations in Africa. We will seek to build on each other’s strengths from this collaboration for the benefit of our customers across the continent.”
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.
Vivo Energy has announced that it will enter into a share transaction with Engen Holdings Mauritius. Upon completion of this transaction, nine new countries and over 300 Engen-branded service stations will be added to Vivo Energy’s network, taking Vivo Energy’s total presence to over 2 100 service stations, across 24 African markets.
The transaction does not affect Namibia as it is not included as the South African subsidiary of Engen Holdings will remain as is.
The new markets for Vivo Energy included in the transaction are DR Congo, 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 will retain its interest in Engen Petroleum Limited which includes the South African business and refinery and Engen’s businesses in Mauritius, Botswana, Ghana, Namibia, Swaziland and Lesotho, which are not part of this transaction.
Commenting on the transaction Christian Chammas, CEO, Vivo Energy said this it will increase its network in new markets.
“In our first six years our shareholders have invested to grow Vivo Energy, increasing our network from around 1,300 to over 1,800 service stations and adding over 400 new and refurbished shops and quick service restaurant offers. I am delighted with today’s agreement with Engen which, subject to regulatory approval, will add a number of new African markets to our business so that we can offer high quality products and services to significantly more customers.”
Yusa Hassan, managing director and CEO of Engen, commented on the transaction saying both companies will build on each other’s strengths.
“Engen is excited to enter into this strategic undertaking with Vivo Energy, which is clearly aligned with our growth aspirations in Africa. We will seek to build on each other’s strengths from this collaboration for the benefit of our customers across the continent.”
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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