Admin l Thursday, April 27, 2017
NETHERLANDS – Shell said it has completed the sale of its 20% interest in Vivo Energy Holding B.V. to Vitol Africa B.V. for a total amount of US$250 million.
“This sale was earlier announced on 23 December 2016 when Shell signed an agreement to divest its interest in this venture”, Shell said in a statement, adding that the completion of the transaction follows regulatory approval and that itbis consistent with Shell’s strategic commitment to focus downstream activity in areas where it can be most competitive.
It added that Shell fuels and products will continue to be available in 16 countries in Africa via a long-term brand licence agreement with Vivo Energy.
Vivo Energy, the Shell licensee in 16 African markets, was established on 1st December 2011 to distribute and market Shell-branded fuels and lubricants.
Vivo Energy provides high quality solutions for motorists and businesses in Botswana, Burkina Faso, Cape Verde, Ghana, Guinea, Ivory Coast, Kenya, Mali, Mauritius, Madagascar, Morocco, Mozambique, Namibia, Senegal, Tunisia and Uganda.
Its retail offering includes fuels, lubricants, card services, shops and other non-fuel services (e.g. oil change and car wash). For businesses it provides fuels, lubricants and liquefied petroleum gas (LPG) to business customers across a range of sectors including marine, mining, and manufacturing.
Jet fuel is sold to customers at 23 airports though a partnership with Vitol Aviation.
The company employs around 2,300 people, operates over 1,700 retail service stations under the Shell brand and has access to approximately 900,000 cubic metres of fuel storage capacity.
Shell and Vivo Lubricants has blending capacity of around 124,000 metric tonnes at plants in six countries (Ghana, Guinea, Ivory Coast, Kenya, Morocco, and Tunisia) producing Shell branded lubricants.
