Vivo Energy and Mount Meru Group on July 27announced that they have signed a sale and purchase agreement for Mount Meru’s acquisition of Vivo Energy's shareholding in Vivo Energy Rwanda and Vivo Energy Malawi, in a combined transaction.

The transaction includes the network of Vivo Energy’s over 40 service stations in Rwanda and over 50 service stations in Malawi, together with the commercial fuel and lubricants operations.

Vivo Energy identified Mount Meru Group as a partner well placed to bring focused investment, local/regional expertise and long-term ambition to its businesses in Rwanda and Malawi.

Mount Meru Group, which first entered Rwanda in 2007 and Malawi in 2013, brings an established regional presence and a strong track record in downstream fuel distribution across Africa. The transaction will see the Group significantly deepen its footprint in both markets.

Commenting on the agreement, Atul Mittal, Director, Mount Meru Group, said: "We are proud to be growing our existing, long-standing presence in Rwanda and Malawi. We are committed to investing and growing these businesses and on completion of the transaction look forward to strengthening relationships with channel partners, customers and employees while expanding our reliable service, customer satisfaction, and environmental responsibility to more consumers.”

Stan Mittelman, CEO, Vivo Energy, said: "We are pleased to have signed this agreement with Mount Meru Group. This decision is not a reflection of how our Rwanda and Malawi businesses have performed, it reflects our ongoing commitment to ensuring every part of our portfolio has the ownership best placed to take it forward.”

"Mount Meru brings deep local and regional expertise and a genuine ambition to invest in these markets, and we are confident this transaction provides a strong opportunity for our employees, dealers and customers in both countries. We have valued working closely with the Mount Meru team throughout this process and look forward to a smooth transition.”

The transaction is subject to approval from the relevant authorities and the fulfilment of other conditions precedent, and we expect this process to take some months before it completes.

Until completion, Vivo Energy Rwanda and Vivo Energy Malawi will continue to operate as normal, maintaining their focus on the safe, reliable and high-quality service they provide to customers.

About Mount Meru Group

Mount Meru Group is a diversified African conglomerate operating across energy, consumer products, and logistics in over 15 countries. It is a leading downstream fuel distributor with strong storage and distribution infrastructure.

Mount Meru operates 330+ Meru-branded fuel stations and manages a robust downstream supply chain, ensuring efficiency and seamless distribution of energy resources. In addition to traditional fuel retailing, Mount Meru has a comprehensive energy portfolio that includes LPG, lubricants, jet fuel, and heavy fuel oil (HFO), catering to a wide range of industrial, aviation, and commercial customers.

The Group also has a significant Fast-Moving Consumer Goods (FMCG) presence through edible oil refining and agro-processing operations, supported by a large farmer network and an integrated logistics fleet of over 1,000 trucks, enabling a fully integrated supply chain across its markets.

About Vivo Energy

The Vivo Energy Group operates and markets its products in countries across Africa, the Indian Ocean Islands and Jordan. The extended Group has a network of over 4,200 service stations in 29 markets operating under the Engen and Shell brands and exports lubricants to a number of other African countries.

Its retail offering includes fuels, lubricants, card services, convenience stores, restaurants, and other non-fuel services. It provides fuels, lubricants, liquefied petroleum gas (LPG) and chemicals to business customers across a range of sectors including marine, aviation, mining, construction, power, transport, agriculture and manufacturing. It is continuing to develop innovative energy solutions to enhance sustainability.

The Company employs around 6,000 people and has access to over 2.1 billion litres of fuel storage capacity.

For more information about Vivo Energy, please visit the company’s website www.vivoenergy.com.