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Monday 29.05.2017 | Name days: Raivis, Raivo, Maksis
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Vitol and Helios become sole owners of Vivo Energy

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUHelios Investment Partners  and Vitol have agreed the acquisition of Shell’s 20% shareholding in Vivo Energy, for USD 250 million. On completion, Vivo will be owned 100% by Vitol and Helios.

At the same time, a long-term brand licence agreement has been renewed with Shell such that Vivo Energy will continue to operate under the Shell brand.

Vivo Energy, the company behind the Shell brand in Africa, was created by Helios, Vitol and Shell in 2011 when Shell divested its majority share in its downstream operations in 14 African markets.

«Since then, its shareholders have made significant investments in people and assets, expanding the retail network from 1,300 to 1,700+ stations, its presence to 16 countries and enhancing Vivo’s industry-leading operational and safety performance. Vivo Energy plans an additional $300 million of investment over the next three years,» as BNN was informed by Vitol representatives.

«It has been a pleasure to partner with Shell in Vivo Energy. The Shell brand is well known and highly respected across Africa, and Vivo and its customers will continue to benefit from its use.  We are proud of what Vivo has achieved to date; a strong commercial performance and excellent HSE, and are looking forward to the next phase of growth,» – said Chris Bake, Chairman of Vivo Energy and a member of Vitol’s Executive Committee.

«Together, in partnership with Shell and Vitol, we have played a key role in supporting Vivo Energy in its mission to create Africa’s most respected energy business. Shell is selling its remaining minority stake in the business while at the same time renewing the brand agreement that has contributed to Vivo’s success across the continent. We look forward to continuing to build the Vivo platform across Africa while upholding best-in-class standards and business practices,» – said Tope Lawani, co-founder and Managing Partner of Helios Investment Partners.

The transaction is expected to close during the first half of 2017.

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