Vivo Energy

Vivo Energy plc, commonly referred to as Vivo Energy, is a downstream petroleum company with its headquarters in the Kingdom of the Netherlands. It maintains subsidiaries and operations in 16 countries across Africa that encompass the supply, storage, distribution, and retail of a range of petroleum products. Vivo Energy is a Royal Dutch Shell licensee and operates in retail of Shell branded commercial fuels, liquefied petroleum gas and lubricants.[2] It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Vivo Energy plc
Public
Traded asLSE: VVO
IndustryOil and gas
Founded2011
HeadquartersLondon, UK
Area served
Africa
Key people
John Daly, Chairman
Christian Chammas, CEO
ServicesFuel stations
RevenueUS$ 8,302 million (2019)[1]
US$ 310 million (2019)[1]
US$ 150 million (2019)[1]
WebsiteVivo Energy

History

Vivo Energy was established in 2011,[2] 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 Royal Dutch 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 JSE.[11] This IPO was the largest in the LSE in 2018 and saw the founding shareholders, Vitol and Helios, raise GBP 548 million.[12]

Operations

Vivo Energy, a Shell licensee in 16 African markets, was established on 1 December 2011 to distribute and market Shell-branded fuels and lubricants.[2] Vivo Energy operates in retail; commercial fuels (marine, mining and aviation through Vitol Aviation; liquefied petroleum gas and lubricants in Botswana, Burkina Faso, Cape Verde, Ghana, Guinea, Ivory Coast, Kenya, Madagascar, Mali, Mauritius, Morocco, Mozambique, Namibia, Senegal, Tunisia and Uganda.[2][13]

As of October 2017, the company employs about 2,300 people, operates over 1,700 retail service stations under the Shell brand and has access to about 900,000 cubic metres (31,783,200 cu ft) of fuel storage capacity, across its African markets.[14] Shell and Vivo lubricants have blending capacity of around 170,000 metric tonnes at plants in seven countries producing Shell branded lubricants and employing around 150 people.[15]

Ownership

The shares of Vivo Energy are listed on the London Stock Exchange and cross listed on the JSE. As of 31 December 2019, the top shareholders of Vivo Energy were as listed below:[16]

Vivo Energy Stock Ownership
RankName of OwnerPercentage Ownership
1Vitol Group
36.10
2Helios Investment Partners associated companies
29.06
3Capital Group Companies Inc
5.25
4Engen Holdings (Pty) Ltd of the South Africa
5.00
5Others via the LSE and JSE
24.59
Total
100.00
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References
  1. "Annual Results 2019" (PDF). Vivo Energy. Retrieved 5 March 2020.
  2. Shell (23 December 2016). "Shell agrees sale of stake in Vivo Energy to Vitol Africa BV: About Vivo Energy". Royal Dutch Shell (Shell). Retrieved 30 October 2017.
  3. Kumwenda, Olivia (19 February 2011). "Shell to sell Africa downstream stake for $1 billion". Johannesburg: Reuters.com. Retrieved 30 October 2017.
  4. Vitol (29 February 2012). "Vivo Energy – 2nd phase of Africa transaction completes". Geneva: Vitol. Retrieved 30 October 2017.
  5. Seitshiro, Kabelo (22 October 2012). "Shell Botswana Gets New Corporate Brand". The Sunday Standard. Gaborone. Retrieved 30 October 2017.
  6. Senelwa, Kennedy (5 May 2012). "Kenya Shell sold to Nigerian fund in billion-dollar deal". The East African. Nairobi. Retrieved 30 October 2017.
  7. Senelwa, Kennedy (16 February 2013). "Vivo takes over from Shell in Uganda". Daily Nation. Nairobi. Retrieved 30 October 2017.
  8. Ghana Trade Ministry (August 2013). "Vivo Energy Ghana Takes Over From Shell Ghana". Ghanatrade.gov.gh (Ghana Trade Ministry). Retrieved 30 October 2017.
  9. "Vivo Energy Mozambique". African Intelligence. 27 September 2013. Retrieved 7 September 2018.
  10. "Vivo Energy plc - IPO Prospectus" (PDF). Vivo Energy plc. 4 May 2018. Retrieved 9 September 2018.
  11. "Vivo Energy closes biggest Africa-focused IPO in a decade". FT. 3 May 2018. Retrieved 7 September 2018.
  12. "Vivo Energy - largest UK-listed African IPO in over a decade". LSEG. 4 May 2018. Retrieved 9 September 2018.
  13. Ngugi, Brian (27 April 2017). "Shell completes sale of Africa retail business to Vivo Energy". Business Daily Africa. Nairobi. Retrieved 30 October 2017.
  14. Ngugi, Brian (30 October 2017). "Vivo plans London listing to raise expansion capital". Business Daily Africa. Nairobi. Retrieved 30 October 2017.
  15. The Ghanaauto (30 September 2014). "The Ghanaauto - Motorbite Fuel Pumps to Offer Comfort for Riders". The Ghanaauto. Retrieved 30 October 2017.
  16. "Vivo Energy 2019 Annual Report" (PDF). 12 March 2020. Retrieved 20 April 2020.
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