Vivo Energy, the firm operating Shell-branded outlets has completed the acquisition a 5
Engen Petroleum is expected to maintain interest in its South African business which includes a refinery to add to its other markets in Mauritius, Botswana, Ghana, Namibia, Swaziland and Lesotho who do not fall as part of the Vivo’s acquisition. Vivo likewise acquires the operations of Engen in Kenya as part of the transaction.
“Today’s announcement opens an important new chapter for Vivo Energy, welcoming around 300 new employees, adding eight new countries to our network, and increasing our target market by almost 160 million to around 36 percent of the African continent,” said Vivo Energy Chief Executive Officer Christian Chammas.
Engen’s business in the Democratic Republic of Congo (DRC) remains under the evaluation of Vivo Energy, pending the conclusion of deliberations between Engen and the DRC government on the potential transfer of the subsidiary. Engen, is a member to the FORTUNE 500 and is majority owned by the Malaysian based Petronas Corporation.