Vitol and Helios Investment Partners (Helios) announced today that they have completed the third phase of the transaction that was first announced on February 19th, 2011.
Vitol and Helios have acquired the majority of Shell’s shareholding in their businesses in Namibia and Botswana. The businesses in Namibia include 34 Shell branded retail stations with another 42 retail stations and 12 Shell Select stores in Botswana, and a total of 130 employees.
These two companies are now part of Vivo Energy, joining ten other countries that have previously transferred.
On final completion of the whole transaction Vivo Energy will operate more than 1300 retail stations across Africa under the Shell brand and will have access to around 1.2 million cubic metres of storage. Shell and Vivo Lubricants will have lubricants blending capacity at plants in seven countries, producing Shell branded lubricants, with the opportunity to market across Africa.
Vitol and Helios each own 40% of Vivo Energy, with Shell holding the remaining 20%, while Shell and Vivo Lubricants is 50% owned by Shell and 50% owned by Vitol and Helios.