Vivo Energy and Engen have today agreed to swap shares in a transaction that will possibly involve cash. The transaction will see Engen operations in 10 markets being transferred to Vivo Energy. The transaction is subject to regulatory approval.
The 10 markets are: Kenya, DR Congo, Zimbabwe, Réunion Island, Zambia, Gabon, Rwanda, Mozambique, Tanzania and Malawi. Once the transaction is completed, over 300 service stations will be added to Vivo Energy’s network, bringing Vivo’s total presence in Africa to over 2,100 service stations in 24 markets.
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Vivo Energy operates and markets its products in countries across North, West, East and Southern Africa. Its retail offering includes fuels, lubricants, card services, shops and other non-fuel services (e.g. oil change and car wash). For businesses it provides fuels, lubricants and liquefied petroleum gas (LPG) to business customers across a range of sectors including marine, mining, and manufacturing. Jet fuel is sold to customers at 23 airports though a partnership with Vitol Aviation.
Engen is an oil company focusing on the downstream refined petroleum products market and related businesses, with a presence across sub-Saharan Africa and the Indian Ocean Islands. The company’s core functions are the refining of crude oil, the marketing of primary refined petroleum products and the provision of convenience services via an extensive retail network.