Oil trader Vitol snaps up UK’s Vivo Energy in $2.3bn deal

Arab News | Nov 25, 2021 at 10:11 AM
  • Commodities trader Vitol will buy Britain’s Vivo Energy in a deal valued at roughly $2.3 billion, the companies said on Thursday, as the Dutch firm looks to take full control of the distributor of Shell- and Engen-branded fuels in Africa.
  • Shares in Vivo, which has a network of about 2,330 service stations across Africa, jumped as much as 21 percent to 134.8 pence.
  • Netherlands-based Vitol, which is the top Vivo investor with a 36.1 percent stake, will also buy out Helios, the second biggest shareholder.