Vivo Energy: fourth phase of Africa transaction completes to include Kenya
Vitol and Helios Investment Partners (Helios) announced today that they have completed the fourth phase of the transaction that was first announced on February 19th, 2011.
Vitol and Helios have acquired the majority of Shell’s shareholding in their business in Kenya. Vivo Energy Kenya has 211 employees, 114 retail sites, products storage capacity of 81,800 cubic metres and 750 metric tonnes of LPG storage in the Nairobi and Mombasa depots, a lubricants blending plant in Mombasa and LPG filling plants in both Nairobi and Mombasa.
Vivo Energy Kenya joins the twelve other countries that have previously transferred to become part of Vivo Energy. (https://www.vivoenergy.com/)
Paul Greenslade, Chairman of Vivo Energy, said: “Vivo Energy Kenya is an important addition to Vivo Energy and brings a comprehensive portfolio of marketing assets, operating under the Shell brand. After 11 months of operations, Vivo Energy has achieved material year on year growth as well as an excellent safety performance across all our operations. Vivo Energy Kenya will bring additional growth and momentum to our business”
On final completion of the whole transaction Vivo Energy will operate more than 1035 retail stations across Africa under the Shell brand and will have access to around 1.8 million cubic metres of fuel storage. Shell and Vivo Lubricants will have lubricants blending capacity at plants in five countries, producing Shell branded lubricants, with the opportunity to market across Africa.
Vitol and Helios each own 40% of Vivo Energy, with Shell holding the remaining 20%, while Shell and Vivo Lubricants is 50% owned by Shell and 50% owned by Vitol and Helios.