Shell has completed the sale of its 20 per cent interest in Vivo Energy Holding B.V. to Vitol Africa B.V. for a total amount of US$250mn
The announcement of the sale was earlier made on 23 December 2016, when Shell signed an agreement to divest its interest in the 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.
Vivo Energy, the Shell licensee in 16 African markets, was established on 1 December 2011 to distribute and market Shell-branded fuels and lubricants. Vivo Energy provides 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.