Vivo Energy buys Engen Holdings

Engen service stations in Zambia are expected to rebrand to “Vivo” following the acquisition of Engen Holdings (Pty) Limited shares by Vivo Energy Holding B.V.

This is according to a joint statement signed by Vivo Energy Head of Communications Rob Foyle and Engen Group Communications Manager Gavin Smith.

“Vivo Energy Holding B.V. (“Vivo Energy”) has today agreed to enter into a share transaction with Engen Holdings (Pty) Limited (“Engen Holdings”), a 100 per cent subsidiary of Engen Limited, in relation to the purchase of shares in Engen International Holdings (Mauritius) Limited (“Engen International Holdings”) for the exchange of a shareholding in Vivo Energy, with a possible cash element. This transaction is subject to regulatory approval,” Andrew Chinambu of Cutting Edge PR stated yesterday on behalf of the two oil trading companies.

“Upon completion of this transaction, nine new countries and over 300 Engen-branded service stations will be added to Vivo Energy’s network, taking Vivo Energy’s total presence to over 2,100 service stations, across 24 African markets. Zambia will be among the nine new markets to be added to the Vivo Energy network once the transaction is completed. The other markets will include; DR Congo, Zimbabwe, Réunion, Gabon, Rwanda, Mozambique, Tanzania and Malawi. Engen’s Kenya operations (where Vivo Energy already operates) are also part of this transaction.”

He however stated that Engen Holdings (Pty) Ltd would retain its interest in Engen Petroleum Limited (the South Africa business and refinery) and Engen’s businesses in Mauritius, Botswana, Ghana, Namibia, Swaziland and Lesotho, which are not part of the transaction.

         

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