Helios and Vitol to own 100% of Vivo Energy

Posted by OilVoice Press - OilVoice


Helios Investment Partners (“Helios”, acting on behalf of the funds to which it is advisor) and Vitol have agreed the acquisition of Shell's 20% shareholding in Vivo Energy (“Vivo”), for US$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.
Chris Bake, Chairman of Vivo Energy and a member of Vitol's Executive Committee said: “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.”
Tope Lawani, co-founder and Managing Partner of Helios Investment Partners, said: “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.”
The transaction is expected to close during the first half of 2017.

New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.


More items from oilvoice

Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice

Posted 5 months agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice

Posted 9 months agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice

Posted 1 year agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice

Posted 1 year agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice

Posted 1 year agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice