Shell sells its stake in Vivo Energy for $250m
Vitol and Helios Investment Partners have acquired Shell's 20% stake in African fuel retailing company Vivo Energy.
Vivo Energy will be owned 100% by Vitol and Helios Investments after the two entities acquired Shell´s 20% take for $250 million. A long-term brand license agreement has been renewed with Shell, meaning Vivo stations will continue to operate under the Shell brand.
In 2011, Vivo Energy was created by Helios, Vital and Shell to distribute and market Shell-branded fuels and lubricants. After 5 years the company has expanded its retailing network from 1,300 to over 1,700 stations and is present across 16 African countries.
“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,” said Chris Bake, Chairman of Vivo Energy and a member of Vitol’s Executive Committee.
Shell and Vivo Lubricants have blending capacity of around 124,000 metric tons at plants in Ghana, Guinea, Ivory Coast, Kenya, Morocco, and Tunisia, producing Shell-branded lubricants.
