Company type | Private company |
---|---|
Industry | Oil and gas |
Founded | 2011 |
Headquarters | London, UK |
Area served | Africa |
Key people | Stan Mittelman, CEO |
Services | Fuel stations |
Revenue | US$ 8,458 million (2021) [1] |
US$ 312 million (2021) [1] | |
US$ 152 million (2021) [1] | |
Owner | Vitol Group |
Number of employees | 2,700 (2022) [2] |
Website | Vivo Energy |
Vivo Energy is a British downstream petroleum company with its headquarters in London. It maintains subsidiaries and operations in 23 countries across Africa that encompass the supply, storage, distribution, and retail of a range of petroleum products. Vivo Energy is a Shell and Engen Petroleum licensee and sources, distributes, markets and supplies fuels and lubricants. It was listed on the London Stock Exchange and the Johannesburg Stock Exchange and was a constituent of the FTSE 250 Index and of the JSE All Share Index until it was acquired by Vitol Group in July 2022.
Vivo Energy was established in 2011, as a partnership between Vitol Group, a Swiss-based Dutch-owned multinational energy and commodity trading company, and Helios Investment Partners, a United Kingdom-based private equity firm, with the objective to purchase majority shares in the downstream fuels business of Shell in Africa for approximately $1 billion. [3]
Cape Verde, Senegal, Madagascar, Mali, Mauritius, Morocco, Tunisia joined Vivo Energy in December 2011. They were followed by Burkina Faso, Côte d'Ivoire, Guinea in February 2012; [4] Botswana and Namibia in October 2012; [5] Kenya in November 2012; [6] Uganda in February 2013, [7] Ghana in August 2013 [8] and Mozambique in August 2013. [9]
Vivo Energy had its initial public offering in May 2018 [10] that saw its shares listed on the London Stock Exchange with a secondary listing on the Johannesburg Stock Exchange. [11] This IPO was the largest in the LSE in 2018 and saw the founding shareholders, Vitol and Helios, raise GBP 548 million. [12]
Until spring 2019 Vivo Energy was a Shell licensee operating in 16 African markets: Botswana, Burkina Faso, Cape Verde, Ghana, Guinea, Ivory Coast, Kenya, Madagascar, Mali, Mauritius, Morocco, Mozambique, Namibia, Senegal, Tunisia and Uganda. [13] However, in March 2019, Vivo Energy completed a transaction with Engen Petroleum, adding eight new countries and 230 Engen-branded service stations to its network. The new markets for Vivo Energy were Gabon, Malawi, Mozambique, Réunion, Rwanda, Tanzania, Zambia and Zimbabwe; accordingly Vivo operates in 23 countries. [14]
In July 2022, Vitol Group secured approval from the relevant regulatory and anti-trust bodies to acquire the company. [15]
As of 31 December 2021, the company operates 2,463 service stations across its markets. [1]