Accra, Ghana: Vivo Energy Ghana Holdings BV and CH Group Limited have today announced that CH Group Ghana Limited has agreed to purchase 8% of the shares in Vivo Energy Ghana Limited from Vivo Energy Ghana Holdings BV for an undisclosed amount.
The completion of this purchase is subject to the satisfaction of certain formalities that are typical for an acquisition of this nature.
Completion of the purchase will result in local Ghanaian shareholdings in Vivo Energy Ghana Limited increasing to just over 25%, which fulfils the divestment requirements outlined in Vivo Energy Ghana Limited’s oil marketing company licence.
The Shell brand has been present in Ghana for over 85 years. Vivo Energy Ghana Limited – the company that distributes and markets Shell-branded fuels and lubricants in Ghana -has141 service stations and has ambitious plans to grow. The majority of these service stations offer Shell Card services and convenience retail stores.
Vivo Energy Ghana Limited iscommitted to being the leading participant in Ghana’s downstream energy market and to makea significant contributionto the continued growth of the Ghanaian economy. In 2014 Vivo Energy invested heavily in Ghana, opening 24 new service stations across the country – more openings than in any of the other 14 countries across Africa where ithas service stations.
Vivo Energy Ghana Limited has been working closely with both the National Petroleum Authority and the Ministry of Energy and Petroleum in order to increase local ownership of the company. The company looks forward to its continued constructive and positiverelationship with all stakeholders as it continues to grow and develop its business, providing employment opportunities for local Ghanaians and high quality Shell-branded fuels and lubricants for its customers in Ghana.
About Vivo Energy Ghana:
Vivo Energy Ghana, the company that distributes and markets Shell-branded fuels and lubricants, was acquired by the Vivo Energy group from Shell in August 2013. Vivo Energy Ghana employs 140 people but the business provides indirect employment to over 1,000 people. The company is recognised as the leader in the oil industry especially championing and setting standards for safety in sales and distribution.
Vivo Energy operates in retail; commercial fuels (marine, mining and aviation through Vitol Aviation); liquefied petroleum gas and lubricants in Botswana, Burkina Faso, Cape Verde, Ghana, Guinea, Ivory Coast, Kenya, Mali, Mauritius, Madagascar, Morocco, Mozambique, Namibia, Senegal, Tunisia and Uganda.
The Vivo Energy group employs around 2,100 people across Africa, operates over 1,500 retail stations under the Shell brand and has access to approximately 900,000 cubic metresof fuel storage capacity. Shell and Vivo Lubricants has blending capacity of around 101,000 metric tons at plants in sixcountries (Ghana, Guinea, Ivory Coast, Kenya, Morocco andTunisia) producing Shell branded lubricants.
For more information about Vivo Energy please visit www.vivoenergy.com
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