Netherlands headquartered downstream petroleum company, Vivo Energy has entered into an agreement to acquire the operations of Engen Holdings in Kenya & other nine African countries.
Under the deal, Engen shareholders will get a shareholding in Vivo Energy, with a possible cash element.
This transaction will see over 300 Engen-branded service stations across these markets added to Vivo Energy’s network, taking the latter’s total presence to over 2,100 service stations, across 24 African markets.
The markets affected by the deal are; DR Congo, Zimbabwe, Réunion, Zambia, Gabon,Rwanda, Mozambique, Tanzania, Kenya and Malawi.
Engen will however retain its interest in South Africa, Mauritius, Botswana, Ghana, Namibia, Swaziland and Lesotho. (All 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.