Mount Meru to acquire Vivo Energy businesses in Rwanda and Malawi
Transaction includes more than 90 service stations and commercial fuel operations across both countries, subject to regulatory approval.
Vivo Energy and Mount Meru Group have signed an agreement under which the latter will acquire the former’s shareholdings in its Rwanda and Malawi businesses, expanding the group's presence in two key African fuel markets.
The transaction covers Vivo Energy Rwanda and Vivo Energy Malawi, including a combined network of more than 90 service stations, as well as their commercial fuels and lubricants operations. Vivo Energy said it selected Mount Meru as a buyer due to its regional experience and long-term investment plans in both countries.
Mount Meru has been active in Rwanda since 2007 and in Malawi since 2013, building a presence in downstream fuel distribution across the continent. The acquisition is expected to strengthen the company’s position in both markets while supporting future growth of the acquired businesses.
Commenting on the agreement, Atul Mittal, Director of Mount Meru Group, said: “We are proud to be growing our existing, long-standing presence in Rwanda and Malawi.” He added that the company is “committed to investing and growing these businesses” while expanding service and customer reach.
Vivo Energy CEO Stan Mittelman said the decision was not linked to the performance of the Rwanda and Malawi operations, but rather to the company’s portfolio strategy. “Mount Meru brings deep local and regional expertise and a genuine ambition to invest in these markets,” he said.
The transaction remains subject to approvals from the relevant authorities and the fulfillment of customary conditions. The companies expect the process to take several months before completion.
Until the deal closes, Vivo Energy Rwanda and Vivo Energy Malawi will continue operating as usual, maintaining existing services for customers, distributors and commercial partners.
