Vivo Energy
 | |
| Company type | Private company |
|---|---|
| Industry | Oil and gas |
| Founded | 2011 |
| Headquarters | London, UK |
Area served | Africa |
Key people | Stan Mittelman, CEO |
| Services | Fuel stations |
| Revenue |  US$ 8,458 million (2021)[1] |
| US$ 312 million (2021)[1] | |
| US$ 152 million (2021)[1] | |
| Owner | Vitol Group |
Number of employees | 2,700 (2022)[2] |
| Website | Vivo Energy |
Vivo Energy is a British downstream petroleum company with its headquarters in London. It maintains subsidiaries and operations in 23 countries across Africa that encompass the supply, storage, distribution, and retail of a range of petroleum products. Vivo Energy is a Shell and Engen Petroleum licensee and sources, distributes, markets and supplies fuels and lubricants. It was listed on the London Stock Exchange and the Johannesburg Stock Exchange and was a constituent of the FTSE 250 Index and of the JSE All Share Index until it was acquired by Vitol Group in July 2022.
History
[edit]Vivo Energy was established in 2011, as a partnership between Vitol Group, a Swiss-based Dutch-owned multinational energy and commodity trading company, and Helios Investment Partners, a United Kingdom-based private equity firm, with the objective to purchase majority shares in the downstream fuels business of Shell in Africa for approximately $1 billion.[3]
Cape Verde, Senegal, Madagascar, Mali, Mauritius, Morocco, Tunisia joined Vivo Energy in December 2011. They were followed by Burkina Faso, Côte d'Ivoire, Guinea in February 2012;[4] Botswana and Namibia in October 2012;[5] Kenya in November 2012;[6] Uganda in February 2013,[7] Ghana in August 2013[8] and Mozambique in August 2013.[9]
Vivo Energy had its initial public offering in May 2018[10] that saw its shares listed on the London Stock Exchange with a secondary listing on the Johannesburg Stock Exchange.[11] This IPO was the largest in the LSE in 2018 and saw the founding shareholders, Vitol and Helios, raise GBP 548 million.[12]
Until spring 2019 Vivo Energy was a Shell licensee operating in 16 African markets: Botswana, Burkina Faso, Cape Verde, Ghana, Guinea, Ivory Coast, Kenya, Madagascar, Mali, Mauritius, Morocco, Mozambique, Namibia, Senegal, Tunisia and Uganda.[13] However, in March 2019, Vivo Energy completed a transaction with Engen Petroleum, adding eight new countries and 230 Engen-branded service stations to its network. The new markets for Vivo Energy were Gabon, Malawi, Mozambique, Réunion, Rwanda, Tanzania, Zambia and Zimbabwe; accordingly Vivo operates in 23 countries.[14]
In July 2022, Vitol Group secured approval from the relevant regulatory and anti-trust bodies to acquire the company.[15]
Operations
[edit]As of 31 December 2021, the company operates 2,463 service stations across its markets.[1]
References
[edit]- ^ a b c d "Preliminary Results 2021" (PDF). Vivo Energy. Retrieved 2 March 2022.
- ^ "Where we operate". Vivo Energy. Retrieved 17 February 2022.
- ^ Kumwenda, Olivia (19 February 2011). "Shell to sell Africa downstream stake for $1 billion". Johannesburg: Reuters.com. Retrieved 30 October 2017.
- ^ Vitol (29 February 2012). "Vivo Energy – 2nd phase of Africa transaction completes". Geneva: Vitol. Retrieved 30 October 2017.
- ^ Seitshiro, Kabelo (22 October 2012). "Shell Botswana Gets New Corporate Brand". The Sunday Standard. Gaborone. Retrieved 30 October 2017.
- ^ Senelwa, Kennedy (5 May 2012). "Kenya Shell sold to Nigerian fund in billion-dollar deal". The East African. Nairobi. Retrieved 30 October 2017.
- ^ Senelwa, Kennedy (16 February 2013). "Vivo takes over from Shell in Uganda". Daily Nation. Nairobi. Retrieved 30 October 2017.
- ^ Ghana Trade Ministry (August 2013). "Vivo Energy Ghana Takes Over From Shell Ghana". Ghanatrade.gov.gh (Ghana Trade Ministry). Retrieved 30 October 2017.
- ^ "Vivo Energy Mozambique". African Intelligence. 27 September 2013. Retrieved 7 September 2018.
- ^ "Vivo Energy plc - IPO Prospectus" (PDF). Vivo Energy plc. 4 May 2018. Retrieved 9 September 2018.
- ^ "Vivo Energy closes biggest Africa-focused IPO in a decade". FT. 3 May 2018. Retrieved 7 September 2018.
- ^ "Vivo Energy - largest UK-listed African IPO in over a decade". LSEG. 4 May 2018. Retrieved 9 September 2018.
- ^ Ngugi, Brian (27 April 2017). "Shell completes sale of Africa retail business to Vivo Energy". Business Daily Africa. Nairobi. Retrieved 30 October 2017.
- ^ "Vivo Energy completes Engen deal". The Herald. 14 October 2020.
- ^ "Vitol Group completes takeover of Vivo Energy PLC". Fuel and Lubricants. 11 July 2022. Retrieved 19 July 2022.