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%%title%% %%sep%% %%primary_category%% %%sep%% %%sitename%% %%sep%% Engen and Vivo Energy announced the completion of the transaction to combine their respective businesses, with Petronas on Tuesday selling its 74% shareholding to Vivo Energy, creating a pan-African champion.
New entity boasts over 3,900 service stations and commits to significant investments in South Africa…
·· Combined Group spans over 3,900 service stations, and more than two billion litres of storage capacity across 28 African markets ·· Significant capital expenditure committed to maintain and grow Engen’s operations in South Africa and make investments to help transform the economy
Engen and Vivo Energy have confirmed the completion of a transaction, announced in February 2023, to combine their respective businesses, with PETRONAS selling its 74% shareholding in Engen to Vivo Energy. The Vivo Energy Group now has over 3 900 service stations, and more than two-billion litres of storage capacity across 28 African markets and chairperson Chris Bake argued that the combination created a pan-African champion with a vision of becoming Africa’s leading energy business.
Engen and Vivo Energy are pleased to announce the completion of the transaction to combine their respective businesses, with PETRONAS today selling its 74% shareholding in Engen to Vivo Energy, creating a pan-African energy champion. The combined Vivo Energy Group now has over 3,900 service stations, and more than two billion litres of storage capacity