Vivo Energy to acquire Engen Holdings African operations for $198 million

  • Written by  Dale Benton

A distributor of shell branded fuels and lubricants to retail and commercial customers in Africa has agreed to acquire a downstream refined petrol company as it expands its African portfolio.

Vivo Energy plc announces that it has reached an agreement with Engen Holdings Limited to restructure the acquisition of Engen International Holdings (Mauritius) Limited by Vivo Energy’s subsidiary, Vivo Energy Investments B.V.

Through the transaction, Vivo Energy will acquire operations in eight new countries and over 225 Engen-branded service stations. This will take its total presence to over 2,000 service stations, across 23 African markets. The new markets for Vivo Energy are Gabon, Malawi, Mozambique, Reunion, Rwanda, Tanzania, Zambia and Zimbabwe. Engen’s Kenya operations (where Vivo Energy already operates) is the ninth country included in the transaction.


The transaction has been valued at around $198 million.

Christian Chammas, CEO, Vivo Energy believes that the transaction “opens an important new chapter for Vivo Energy.”

“We look forward to welcoming around 350 new employees, adding eight new countries to our network, and increasing our target market by nearly 150 million people to around 35% of the African population. Importantly, our existing business remains on track to achieve our full year guidance and we continue to invest in and grow our existing operations.”

“In Vivo Energy’s first seven years we invested to grow our business, increasing our network and adding new and refurbished shops and quick service restaurant offers. We have an opportunity to replicate this successful business model to drive growth and profitability in our new markets and look forward to updating the market in the new year on the scale of the opportunity ahead of us. We must seize this in order to deliver value for our shareholders, and move closer to achieving our goal of becoming Africa’s most respected energy business.”

Login to post comments
back to top

BEAMED BC-TV

Latest on Economy

Economy

Libya government partners with World Ban…

21 February, 2019 | Hits:15

The World Bank Group has announced a new strategy ...

Economy

IFAD, Egypt sign $81 million deal to pro…

21 February, 2019 | Hits:11

The International Fund for Agricultural Developmen...

Economy

Jack Ma’s US$10 Million Africa Netpreneu…

21 February, 2019 | Hits:9

The Africa Netpreneur Prize Initiative (ANPI) will...

Economy

Lean Africa Consultants arranges infrast…

21 February, 2019 | Hits:15

Nairobi-based consulting firm Lean Africa Consulta...

Economy

South African Airways to separate into t…

21 February, 2019 | Hits:15

South Africa’s national carrier, South African Air...

Economy

Innova to open $40 million plant in Keny…

20 February, 2019 | Hits:16

Innova Eco Building System has entered into a join...

Economy

170 000 register to grow tobacco

20 February, 2019 | Hits:22

Tobacco grower registrations for the 2019 marketin...

Economy

FAO alerts on Desert Locust outbreak in …

20 February, 2019 | Hits:25

Heavy rains and cyclones have triggered a recent s...

Economy

UN raises alarm on drought crisis in SAD…

20 February, 2019 | Hits:26

Gaborone- The United Nations has warned of a loomi...

Economy

Angola has significant production of man…

20 February, 2019 | Hits:27

According to the official who was speaking at the ...

Economy

Wheat consumption rising in Africa

20 February, 2019 | Hits:21

Africa has been a fast-growing grain import market...

Economy

Azuri and FirstBank partner to bring sol…

19 February, 2019 | Hits:25

Azuri and First Bank of Nigeria Limited have annou...

Economy

Nigeria, India pledge deeper collaborati…

19 February, 2019 | Hits:26

Nigeria and the Republic of India have pledged to ...

Economy

South Africa: Africa Energy Indaba 2019 …

19 February, 2019 | Hits:21

The much-anticipated Africa Energy Indaba, held in...

Economy

African Leaders Support Dangote, Imoukhu…

19 February, 2019 | Hits:33

Jonathan Eze and Chris Uba Heads of Government acr...

Economy

Are East Africa's business laws scaring …

19 February, 2019 | Hits:19

East Africa’s regulatory environment and its inves...

Economy

Ethiopia and Djibouti to build gas pipel…

19 February, 2019 | Hits:104

Ethiopia has signed a deal to develop a gas pipeli...

Economy

Western Union introduces new payment opt…

18 February, 2019 | Hits:33

The Western Union Company, a player in cross-borde...

Economy

Mauritius most connected country in Sub …

18 February, 2019 | Hits:26

Global logistics company DHL has released the fift...

Economy

Agriculture task force takes aim at EU i…

18 February, 2019 | Hits:31

An expert group convened by the European Union to ...

By Category

Local News

User Menu

About Us

Follow Us