JOHANNESBURG - Engen Limited, through subsidiary Engen Holdings, is selling more than 300 Engen-branded service stations in 10 African countries to Vivo Energy Holding, Vivo said yesterday.
As a result of the deal, Vivo will get a footprint in nine new countries - DR Congo, Zimbabwe, Réunion, Zambia, Gabon, Rwanda, Mozambique, Tanzania and Malawi. Vivo said Engen’s Kenya operations, where Vivo already had a presence, were also part of the deal. Engen’s South African business and refinery as well as its businesses in Mauritius, Botswana, Ghana, Namibia, Swaziland and Lesotho were not part of the transaction.
Commenting on the deal, Engen managing director and chief executive Yusa Hassan said: “Engen is excited to enter into this strategic undertaking with Vivo Energy, which is clearly aligned with our growth aspirations in Africa. We will seek to build on each other’s strengths from this collaboration for the benefit of our customers across the continent.”
Currently with more than 1800 service stations across 15 African markets, Vivo Energy sources, distributes, markets and supplies Shell-branded fuels and lubricants.
- BUSINESS REPORT