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November 26, 2021

Vitol signs $2.3bn deal to acquire shares in Africa-focused Vivo Energy

The acquisition is expected to increase Vitol’s fuel distribution network in Africa.

By Archana Rani

Commodities trader Vitol has signed an agreement to buy shares in Vivo Energy, a UK-based fuel distributor with a focus on Africa, for approximately $2.3bn. These shares will be in addition to the 36% stake already owned by Vitol.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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Vivo Energy has operations in 23 countries across Africa.

It distributes and sells Shell and Engen-branded fuels and lubricants through its network of more than 2,400 service stations.

The acquisition is expected to strengthen Vitol’s fuel distribution network in Africa.

Under the terms of the deal, Vitol will pay $1.79 in cash and $0.06 as interim and special dividends to the new Vivo shareholders.

Vitol origination head Chris Bake said: “Since we founded Vivo with Helios and Shell, we have believed in the business’ potential and we are excited to have it within the Vitol family, as a pillar of our strategy in Africa. We are pleased that both Helios and the Independent Vivo Directors support our proposal.

“We very much look forward to working with management on this next phase of growth and we thank Helios for their support and collaboration over the last ten years.”

The deal is supported by Vivo’s second largest shareholder and co-founder Helios Investment Partners.

Earlier this year,  Vitol received an oil shipment from Russia’s Rosneft as part of a long-term supply deal signed in September 2021 between the two companies.

In a separate development, British firm Serica Energy started production from the Columbus field in the Central North Sea.

Production streams from the Columbus field and the Arran field are being exported for processing to the Shearwater platform.

Serica Energy CEO Mitch Flegg said: “This marks a significand milestone for Serica as it reaches the successful conclusion of its first development project. The company was involved in the discovery of Columbus and has acted as operator through the appraisal and development phases and now into operations.”

Related Companies

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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