Vivo Energy: Signing of third phase of Africa transaction to include Botswana and Namibia
Vitol and Helios Investment Partners (Helios) announced today that they have jointly signed the next phase of the transaction that was first announced on February 19th, 2011. On completion of this third phase of the transaction, Vitol and Helios will acquire the majority of Shell’s shareholding in their businesses in Namibia and Botswana. Completion is expected within two to three months, subject to all regulatory approvals. The businesses in Namibia include 34 retail stations with another 44 in Botswana and a total of 140 employees.
On completion these two companies will become part of Vivo Energy, joining the eleven companies that have previously transferred. The final countries that are included in this transaction will transfer to Vivo Energy later in 2012, subject to local regulatory and legal approvals.
On final completion of the complete transaction Vivo Energy will operate more than 1300 retail stations across Africa under the Shell brand and will have access to around 1.2 million cubic metres of storage. Shell and Vivo Lubricants will have lubricants blending capacity at plants in seven 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.
Christian Chammas, CEO of Vivo Energy, said “We look forward to welcoming these two new companies to Vivo Energy. Our business is growing ahead of plan across Africa and we see plenty of additional sources of growth. These are exciting times for Vivo Energy and I am confident that our new teams in Botswana and Namibia will quickly make a significant contribution”.