Cape Town, South Africa. 9 February 2023: Engen and Vivo Energy are pleased to announce a combination of their respective African businesses to create one of Africa's largest energy distribution companies.

The combined group will have over 3,900 service stations and more than two billion litres of storage capacity across 27 African countries. Engen is the clear market leader in South Africa and has around 1,300 service stations across seven African countries. Vivo Energy is a major pan-African retailer and distributor of fuels and lubricants to retail and commercial customers, with over 2,600 service stations across 23 African countries, using the Engen and Shell brands.<_o3a_p>

PETRONAS will sell its 74% shareholding in Engen to Vivo Energy at completion. The Phembani Group, PETRONAS' long-standing partner in Africa and Engen's B-BBEE shareholder, is continuing its strong association with Engen and will remain invested as a 21% shareholder in the South African business. The transaction will further benefit employees of Engen through a newly implemented 5% employee share ownership programme, resulting in Engen South Africa being 26% owned by previously disadvantaged parties.<_o3a_p>

Stan Mittelman, CEO of Vivo Energy said: "Vivo Energy's focus has been to invest to grow our business, and I am proud that we have more than doubled the size of our network since our formation in 2011. Four years ago, we acquired the Engen business in nine African markets, and have since worked to enhance and develop these. Vitol's acquisition of 100% of Vivo Energy last year brings more opportunity to grow even faster. Completion of this transaction, which reunites the Engen brand across Africa, will be a step change in our growth and represents a significant commitment to the South African market whilst enhancing Vivo Energy's portfolio in other important markets." <_o3a_p>

Seelan Naidoo, Managing Director and CEO of Engen said: "This is an exciting opportunity for Engen to build on its market leading position in South Africa and a number of southern African countries. It allows us to leverage our strong brand equity, leading retail footprint, extensive supply chain capability and unrivalled customer service to be a leading contributor to Vivo Energy and Vitol's ambition to build a stronger and more successful pan-African energy champion. Engen is excited to become part of the enlarged business and this will set up our business to be stronger and more successful than ever before."<_o3a_p>

Phuthuma Nhleko, Chairman and Co-founder of Phembani Group said: "The Phembani Group is proud to have been a long-term shareholder in Engen since 1999, partnering with PETRONAS and helping to grow Engen into a valuable South African corporate citizen, meeting the needs of millions of ordinary South Africans. We are pleased to partner with Vivo Energy in the next phase of Engen's growth. We are confident that together we will support Engen's continued growth, enabling it to realise its vision."<_o3a_p>

Chris Bake, Chair of Vivo Energy said: "Vivo Energy has been a success story since its inception. It has grown consistently, both organically and by investing in modern quality assets. It has a highly professional and capable management team with a deep understanding of Africa's unique energy requirements. Engen is South Africa's market-leader and this powerful combination will benefit customers in South Africa and across the continent."<_o3a_p>

The transaction is currently pending regulatory approvals and fulfilment of conditions precedent.

Rand Merchant Bank (a division of FirstRand Bank Limited) and Standard Bank advised Vivo Energy. Morgan Stanley and Rothschild & Co are advisors to PETRONAS on this transaction.<_o3a_p>




Notes to editors:<_o3a_p>

Media contacts:<_o3a_p>

Gavin Smith, Engen<_o3a_p>

+27 214 034 312<_o3a_p><_o3a_p>


Rob Foyle, Vivo Energy<_o3a_p>

+44 7715 036 407<_o3a_p><_o3a_p>


Andrea Schlaepfer, Vitol<_o3a_p>

+44 20 7973 4230<_o3a_p>


About Vivo Energy:<_o3a_p>

Vivo Energy operates and markets its products in countries across North, West, East and Southern Africa. The Group has a network of over 2,600 service stations in 23 countries operating under the Shell and Engen brands and exports lubricants to a number of other African countries. Its retail offering includes fuels, lubricants, card services, shops, restaurants and other non-fuel services. It provides fuels, lubricants and liquefied petroleum gas (LPG) to business customers across a range of sectors including marine, aviation, mining, construction, power, transport, and manufacturing. It is continuing to develop innovative energy solutions to enhance sustainability.<_o3a_p>

The Company employs around 2,700 people and has access to over 1,000,000 cubic metres of fuel storage capacity. The Group's joint venture, Shell and Vivo Lubricants B.V., sources, blends, packages and supplies Shell-branded lubricants at plants in six countries.<_o3a_p>

For more information about Vivo Energy, please visit



About Engen:<_o3a_p>

Engen is an African-based energy group focused on the marketing of petroleum, lubricants and functional fluids, chemicals, and retail convenience offerings, through an extensive network of over 1,300 service stations across 7 countries in sub-Saharan Africa and the Indian Ocean Islands. Engen also exports its products to various other territories. Our core functions are the supply and distribution of primary refined petroleum products through our extensive retail network. <_o3a_p>

Engen is South Africa's favourite petrol station and "coolest" petroleum brand, an industry trendsetter and customer focused market leader with our brand promise 'With us you are Number One'. <_o3a_p>

For more information about Engen, please visit<_o3a_p>

About Vitol:<_o3a_p>

Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. It trades 7.6 million barrels per day of crude oil and products, and charters circa 6,200 ship voyages every year.<_o3a_p>

Vitol's clients include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: 16 m m3 of storage globally, 500 k b/d of refining capacity, over 6,400 service stations and a growing portfolio of transitional and renewable energy assets. Revenues in 2021 were $279 billion.<_o3a_p>

For more information about Vitol, please visit




Vivo Energy plc published this content on 09 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 13:30:09 UTC.