Vivo Vitality and Mount Meru Group on July 27announced that they’ve signed a sale and buy settlement for Mount Meru’s acquisition of Vivo Vitality's shareholding in Vivo Vitality Rwanda and Vivo Vitality Malawi, in a mixed transaction.
The transaction contains the community of Vivo Vitality’s over 40 service stations in Rwanda and over 50 service stations in Malawi, along with the business gasoline and lubricants operations.
Vivo Vitality recognized Mount Meru Group as a accomplice properly positioned to deliver targeted funding, native/regional experience and long-term ambition to its companies in Rwanda and Malawi.
Mount Meru Group, which first entered Rwanda in 2007 and Malawi in 2013, brings a longtime regional presence and a powerful observe document in downstream gasoline distribution throughout Africa. The transaction will see the Group considerably deepen its footprint in each markets.
Commenting on the settlement, Atul Mittal, Director, Mount Meru Group, mentioned: “We’re proud to be rising our present, long-standing presence in Rwanda and Malawi. We’re dedicated to investing and rising these companies and on completion of the transaction sit up for strengthening relationships with channel companions, clients and workers whereas increasing our dependable service, buyer satisfaction, and environmental accountability to extra customers.”
Stan Mittelman, CEO, Vivo Vitality, mentioned: “We’re happy to have signed this settlement with Mount Meru Group. This determination will not be a mirrored image of how our Rwanda and Malawi companies have carried out, it displays our ongoing dedication to making sure each a part of our portfolio has the possession greatest positioned to take it ahead.”
“Mount Meru brings deep native and regional experience and a real ambition to spend money on these markets, and we’re assured this transaction gives a powerful alternative for our workers, sellers and clients in each nations. We’ve got valued working intently with the Mount Meru staff all through this course of and sit up for a easy transition.”
The transaction is topic to approval from the related authorities and the fulfilment of different circumstances precedent, and we count on this course of to take some months earlier than it completes.
Till completion, Vivo Vitality Rwanda and Vivo Vitality Malawi will proceed to function as regular, sustaining their give attention to the secure, dependable and high-quality service they supply to clients.
About Mount Meru Group
Mount Meru Group is a diversified African conglomerate working throughout vitality, shopper merchandise, and logistics in over 15 nations. It’s a main downstream gasoline distributor with sturdy storage and distribution infrastructure.
Mount Meru operates 330+ Meru-branded gasoline stations and manages a strong downstream provide chain, making certain effectivity and seamless distribution of vitality sources. Along with conventional gasoline retailing, Mount Meru has a complete vitality portfolio that features LPG, lubricants, jet gasoline, and heavy gasoline oil (HFO), catering to a variety of business, aviation, and business clients.
The Group additionally has a big Quick-Transferring Shopper Items (FMCG) presence by means of edible oil refining and agro-processing operations, supported by a big farmer community and an built-in logistics fleet of over 1,000 vehicles, enabling a completely built-in provide chain throughout its markets.
About Vivo Vitality
The Vivo Vitality Group operates and markets its merchandise in nations throughout Africa, the Indian Ocean Islands and Jordan. The prolonged Group has a community of over 4,200 service stations in 29 markets working beneath the Engen and Shell manufacturers and exports lubricants to a lot of different African nations.
Its retail providing contains fuels, lubricants, card providers, comfort shops, eating places, and different non-fuel providers. It gives fuels, lubricants, liquefied petroleum fuel (LPG) and chemical compounds to enterprise clients throughout a variety of sectors together with marine, aviation, mining, building, energy, transport, agriculture and manufacturing. It’s persevering with to develop revolutionary vitality options to reinforce sustainability.
The Firm employs round 6,000 folks and has entry to over 2.1 billion litres of gasoline storage capability.
For extra details about Vivo Vitality, please go to the corporate’s web site www.vivoenergy.com.
