Vivo Energy

Last updated

Vivo Energy plc
Type Private company
Industry Oil and gas
Founded2011
Headquarters London, UK
Area served
 Africa
Key people
Stan Mittelman, CEO
Services Fuel stations
RevenueIncrease2.svg US$ 8,458 million (2021) [1]
Increase2.svg US$ 312 million (2021) [1]
Increase2.svg US$ 152 million (2021) [1]
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.

Contents

History

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

As of 31 December 2021, the company operates 2,463 service stations across its markets. [1]

Related Research Articles

The African Securities Exchanges Association (ASEA) was incorporated in 1993 in Nairobi. ASEA's aim is to provide a formal framework for the mutual co-operation of securities exchanges in the African region. Its functions include the exchange of information and assistance in the development of member exchanges.

Renaissance Capital (Russian company) Russian investment bank

Renaissance Capital is an emerging and frontier markets focused investment bank founded in 1995 in Russia. The firm has offices in Moscow, London, New York, Lagos, Nairobi, Johannesburg, Cairo and Nicosia.

Oando Nigerian multinational energy company

Oando Plc is a Nigerian multinational energy company operating in the upstream, midstream and downstream.

KCB Group Limited, also known as the KCB Group, is a financial services holding company based in the African Great Lakes region. The Group's headquarters are in Nairobi, Kenya, with its subsidiaries being KCB Bank Kenya Limited, KCB Bank Burundi Limited, KCB Bank Rwanda Limited, KCB Bank South Sudan Limited, KCB Bank Tanzania Limited,KcbTmb Congo and KCB Bank Uganda Limited.

Cipla Quality Chemical Industries Limited (CiplaQCIL) is a pharmaceutical manufacturing company in Uganda. According to a 2007 published report, it was the only company in Africa that manufactured triple-combination antiretroviral (ARV) drugs. CiplaQCIL also manufactures the antimalarial drug Lumartem, containing artemisinin and lumefantrine, and the Hepatitis B generic medicines Texavir and Zentair.

Massmart Holdings Limited is a South African firm that owns local brands such as Game, Makro, Builder's Warehouse and CBW. It is the second-largest distributor of consumer goods in Africa, the largest retailer of general merchandise, liquor and home improvement equipment and wholesaler of basic foods. As of 31 July 2022, Massmart operated 412 stores in South Africa and 12 other Sub-Saharan countries. Its head offices are in the Massmart House in Sandton, Johannesburg.

FirstRand

FirstRand Limited, also referred to as FirstRand Group is the holding company of FirstRand Bank, and is a financial services provider in South Africa. It is one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator.

Rwanda Stock Exchange Stock exchange located in Kigali, Rwanda

The Rwanda Stock Exchange Limited was incorporated on 7 October 2005 with the objective of carrying out stock market operations. The Stock Exchange was demutualized from the start as it was registered as a company limited by shares. The company was officially launched on 31 January 2011.

Absa Bank Kenya

Absa Bank Kenya Plc, formerly Barclays Bank Kenya Limited, is a commercial bank in Kenya and a subsidiary of South Africa-based Absa Group Limited. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.

The Uganda Oil Refinery is a planned crude oil refinery in Uganda.

Britam Holding PLC is a leading diversified financial services group and is listed on the Nairobi Securities Exchange. The group has presence in seven Africa countries in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi.

Engen Petroleum

Engen Petroleum is a South African oil company focusing on the downstream refined petroleum products market and related businesses. The company’s core functions are the refining of crude oil, the marketing of primary refined petroleum products and the provision of convenience services via an extensive retail network. Until 1990, it was part of Mobil. In 1993, it changed the brand name to Engen. The company is present in 17 countries and exports products to over 30 more countries, mostly in Africa and the Indian Ocean Islands.

Letshego A microfinance holding company in Botswana

Letshego Holdings Limited is a microfinance holding company with its headquarters in Gaborone, Botswana and is listed on the Botswana Stock Exchange (BSE). Letshego is a Setswana word meaning “Support”.

WPP-Scangroup Kenyan marketing company

WPP-Scangroup is a subsidiary of WPP and is listed on the Nairobi Securities Exchange. It is the largest marketing and communication group operating a multi-agency model across multiple disciplines in Sub-Saharan Africa. The group comprises the ad agencies Ogilvy Africa, SCANAD, JWT and BluePrint Marketing; media firms GroupM, MediaCom Africa, Mindshare and MEC; public relations agencies Ogilvy PR and H+K Strategies; market research agency Millward Brown; specialty communication firms Roundtrip and Geometry Global; and digital companies OgilvyOne, Squad Digital and SCANAD Digital. In all, over 1200 people are employed across the various organizations.

KenolKobil Plc, is a pan African downstream oil company. The group's operations span seven countries across Eastern, Central and Southern Africa and encompass the supply, storage, distribution and retail of a wide range of petroleum products.

African Alliance Investment Bank (AAIB) is "an investment banking group" operating in Africa.

The Tanzania Liquefied Natural Gas Project (TLNGP), also Likong’o-Mchinga Liquefied Natural Gas Project (LMLNGP), is a planned liquefied natural gas processing plant in Tanzania.

There are several classes of oil companies in Uganda. One class is that of oil exploration companies. The other class in one of oil marketing companies. Another class is that of oil distribution companies. Some companies fall in more than one class. There are more companies in the space than are listed on this page.

The 2022 ACA Africa T20 Cup is a cricket tournament scheduled to be played in Benoni, Gauteng, South Africa. The tournament was originally scheduled to be held in September 2019, but was moved to March 2020, with the original host city being Nairobi, Kenya. On 9 March 2020, the tournament was postponed again due to the COVID-19 pandemic, in line with the Kenyan government's 30-day ban on international gatherings. The tournament was initially rescheduled to be played in 2020, and then moved to 2021.

Botswana Insurance Holdings Limited is an investment, retirement, and insurance group that maintains its headquarters in Botswana and operates through three subsidiaries and holds a stake in a number of associate companies. BIHL Group was established in 1975 and has been listed on the Botswana Stock Exchange since 1991.

References

  1. 1 2 3 4 "Prelimary Results 2021" (PDF). Vivo Energy. Retrieved 2 March 2022.
  2. ↑ "Where we operate". Vivo Energy. Retrieved 17 February 2022.
  3. ↑ Kumwenda, Olivia (19 February 2011). "Shell to sell Africa downstream stake for $1 billion". Johannesburg: Reuters.com . Retrieved 30 October 2017.
  4. ↑ Vitol (29 February 2012). "Vivo Energy – 2nd phase of Africa transaction completes". Geneva: Vitol . Retrieved 30 October 2017.
  5. ↑ Seitshiro, Kabelo (22 October 2012). "Shell Botswana Gets New Corporate Brand". The Sunday Standard. Gaborone. Retrieved 30 October 2017.
  6. ↑ Senelwa, Kennedy (5 May 2012). "Kenya Shell sold to Nigerian fund in billion-dollar deal". The East African . Nairobi. Retrieved 30 October 2017.
  7. ↑ Senelwa, Kennedy (16 February 2013). "Vivo takes over from Shell in Uganda". Daily Nation . Nairobi. Retrieved 30 October 2017.
  8. ↑ Ghana Trade Ministry (August 2013). "Vivo Energy Ghana Takes Over From Shell Ghana". Ghanatrade.gov.gh (Ghana Trade Ministry). Retrieved 30 October 2017.
  9. ↑ "Vivo Energy Mozambique". African Intelligence. 27 September 2013. Retrieved 7 September 2018.
  10. ↑ "Vivo Energy plc - IPO Prospectus" (PDF). Vivo Energy plc. 4 May 2018. Retrieved 9 September 2018.
  11. ↑ "Vivo Energy closes biggest Africa-focused IPO in a decade". FT. 3 May 2018. Retrieved 7 September 2018.
  12. ↑ "Vivo Energy - largest UK-listed African IPO in over a decade". LSEG. 4 May 2018. Retrieved 9 September 2018.
  13. ↑ Ngugi, Brian (27 April 2017). "Shell completes sale of Africa retail business to Vivo Energy". Business Daily Africa . Nairobi. Retrieved 30 October 2017.
  14. ↑ "Vivo Energy completes Engen deal". The Herald. 14 October 2020.
  15. ↑ "Vitol Group completes takeover of Vivo Energy PLC". Fuel and Lubricants. 11 July 2022. Retrieved 19 July 2022.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.