Apr 26, 2017 – Shell has completed the sale of its 20% interest in Vivo Energy Holding B.V. to Vitol Africa B.V. for a total amount of US$250 million.
This sale was earlier announced on 23 December 2016 when Shell signed an agreement to divest its interest in this venture. Completion of the transaction follows regulatory approval and is consistent with Shell’s strategic commitment to focus downstream activity in areas where it can be most competitive.
Shell fuels and products will continue to be available in 16 countries in Africa via a long-term brand licence agreement with Vivo Energy.
About Vivo Energy
Vivo Energy, the Shell licensee in 16 African markets, was established on 1st December 2011 to distribute and market Shell-branded fuels and lubricants. Vivo Energy provides high quality solutions for motorists and businesses in Botswana, Burkina Faso, Cape Verde, Ghana, Guinea, Ivory Coast, Kenya, Mali, Mauritius, Madagascar, Morocco, Mozambique, Namibia, Senegal, Tunisia and Uganda. Its retail offering includes fuels, lubricants, card services, shops and other non-fuel services (e.g. oil change and car wash). For businesses it provides fuels, lubricants and liquefied petroleum gas (LPG) to business customers across a range of sectors including marine, mining, and manufacturing. Jet fuel is sold to customers at 23 airports though a partnership with Vitol Aviation. The company employs around 2,300 people, operates over 1,700 retail service stations under the Shell brand and has access to approximately 900,000 cubic metres of fuel storage capacity. Shell and Vivo Lubricants has blending capacity of around 124,000 metric tonnes at plants in six countries (Ghana, Guinea, Ivory Coast, Kenya, Morocco, and Tunisia) producing Shell branded lubricants. For more information about Vivo Energy please visit: www.vivoenergy.com
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this announcement “Shell”, “Shell group” and “Royal Dutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to companies over which Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations” respectively. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.
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