Vivo Energy
{{Short description|British downstream petroleum company}}
{{About|the downstream petroleum company|other uses|Vivo (disambiguation)}}
{{EngvarB|date=August 2015}}
{{Use dmy dates|date=August 2015}}
{{Infobox company
| name = Vivo Energy plc
| logo = Vivo Energy logo.svg
| logo_size =
| traded_as =
| type = Private company
| foundation = 2011
| founder =
| location = London, UK
| area_served = Africa
| key_people = Stan Mittelman, CEO
| industry = Oil and gas
| services = Fuel stations
| revenue = {{increase}} US$ 8,458 million (2021){{cite web|publisher=Vivo Energy|title=Preliminary Results 2021|url=https://investors.vivoenergy.com/~/media/Files/V/Vivo-Energy-IR/reports-and-presentations/2022/2021-full-year-results-announcement.pdf|access-date=2 March 2022}}
| operating_income = {{increase}} US$ 312 million (2021)
| net_income = {{increase}} US$ 152 million (2021)
| assets =
| equity =
| owner = Vitol Group
| num_employees = 2,700 (2022){{cite web|publisher=Vivo Energy|title=Where we operate|url=https://www.vivoenergy.com/|access-date=17 February 2022}}
| homepage = [http://www.vivoenergy.com/ 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.
History
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.{{cite web|
url=https://www.reuters.com/article/us-shell/shell-to-sell-africa-downstream-stake-for-1-billion-idUSTRE71I1NO20110219 |title=Shell to sell Africa downstream stake for $1 billion | publisher=Reuters.com | access-date=30 October 2017 | date=19 February 2011 | first=Olivia |last=Kumwenda | location=Johannesburg}}
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;{{cite web|access-date=30 October 2017 | url=http://www.vitol.com/vivo-energy-2nd-phase-of-africa-transaction-completes/ |title=Vivo Energy – 2nd phase of Africa transaction completes | date=29 February 2012 | publisher=Vitol |author=Vitol | location=Geneva}} Botswana and Namibia in October 2012;{{cite web|url=http://www.sundaystandard.info/shell-botswana-gets-new-corporate-brand |title=Shell Botswana Gets New Corporate Brand |last=Seitshiro |
first=Kabelo |date=22 October 2012 | access-date=30 October 2017 | newspaper=The Sunday Standard |location=Gaborone}} Kenya in November 2012;{{cite web| title=Kenya Shell sold to Nigerian fund in billion-dollar deal | date=5 May 2012 |access-date=30 October 2017 |first=Kennedy |
url=https://www.theeastafrican.co.ke/news/Kenya-Shell-sold-to-Nigerian-fund-in-billion-dollar-deal/2558-1399936-140j92z/index.html | last=Senelwa | newspaper=The East African | location=Nairobi}} Uganda in February 2013,{{cite web| title=Vivo takes over from Shell in Uganda |
url=https://www.theeastafrican.co.ke/business/Vivo-takes-over-from-Shell-in-Uganda/-/2560/1696034/-/format/xhtml/view/printVersion/-/ftoyyh/-/index.html |date=16 February 2013 | access-date=30 October 2017 | last=Senelwa | first=Kennedy |newspaper=Daily Nation | location=Nairobi}} Ghana in August 2013{{cite web|url=http://www.ghanatrade.gov.gh/Latest-News/vivo-energy-ghana-takes-over-from-shell-ghana.html |date=August 2013 |
title=Vivo Energy Ghana Takes Over From Shell Ghana |access-date=30 October 2017 |publisher=Ghanatrade.gov.gh (Ghana Trade Ministry) |
author=Ghana Trade Ministry}} and Mozambique in August 2013.{{cite web|url=https://www.africaintelligence.com/ion/business-circles_companies/2013/09/27/vivo-energy-mozambique,107978617-bre|title=Vivo Energy Mozambique|date=27 September 2013|publisher=African Intelligence|access-date=7 September 2018}}
Vivo Energy had its initial public offering in May 2018{{Cite web|url=https://investors.vivoenergy.com/~/media/files/v/vivo-energy-ir/itfdocs/vivo-energy-plc-prospectus-4-may-2018.pdf|title=Vivo Energy plc - IPO Prospectus|date=4 May 2018|publisher=Vivo Energy plc|access-date=9 September 2018}} that saw its shares listed on the London Stock Exchange with a secondary listing on the Johannesburg Stock Exchange.{{cite web|url=https://www.ft.com/content/936e847c-4edd-11e8-9471-a083af05aea7|title=Vivo Energy closes biggest Africa-focused IPO in a decade|date=3 May 2018|publisher=FT|access-date=7 September 2018}} This IPO was the largest in the LSE in 2018 and saw the founding shareholders, Vitol and Helios, raise GBP 548 million.{{Cite web|url=https://www.lseg.com/resources/media-centre/press-releases/vivo-energy-largest-uk-listed-african-ipo-over-decade|title=Vivo Energy - largest UK-listed African IPO in over a decade|date=2018-05-04|publisher=LSEG|access-date=2018-09-09}}
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.{{cite web|access-date=30 October 2017 |url=http://www.businessdailyafrica.com/corporate/Shell-completes-sale-of-Africa-retail-business-to-Vivo-Energy/539550-3906380-78alqbz/index.html | date=27 April 2017 |title=Shell completes sale of Africa retail business to Vivo Energy | newspaper=Business Daily Africa | first=Brian | last=Ngugi |location=Nairobi}} 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.{{cite web|url=https://www.herald.co.zw/vivo-energy-completes-engen-deal/|title=Vivo Energy completes Engen deal|date=14 October 2020|publisher=The Herald}}
In July 2022, Vitol Group secured approval from the relevant regulatory and anti-trust bodies to acquire the company.{{cite news|url= https://www.fuelsandlubes.com/flo-article/vitol-group-completes-takeover-of-vivo-energy-plc/ |title=Vitol Group completes takeover of Vivo Energy PLC|date=11 July 2022|newspaper=Fuel and Lubricants|access-date=19 July 2022}}
Operations
References
{{reflist|colwidth=30em}}
External links
- [http://www.vivoenergy.com/ Official site]
{{Authority control}}
Category:Oil companies of the Netherlands
Category:Multinational oil companies
Category:Energy companies established in 2011
Category:2011 establishments in the Netherlands
Category:Non-renewable resource companies established in 2011