Vitol Group completed the acquisition of Vivo Energy for $2.3bn.

Vitol Group, a Dutch energy and commodity trading company, completed the acquisition of Vivo Energy, a British downstream petroleum company with its headquarters in London, for $2.3bn. "Since Vivo Energy was established 10 years ago, the company has had a clear growth strategy and looked to deliver sustainable value for all its stakeholders. The Independent Vivo Directors believe that Vivo's leading position in Africa means that it is well positioned to continue to capitalise on the opportunities that will arise from the fundamental growth drivers on the continent. Vivo also demonstrated the strength of its business model through the impacts of the pandemic, with a rapid recovery in operational and financial performance, supported by committed leadership and employees who embody the unique Vivo culture. This performance and strong financial position has enabled the business to deliver on its growth plans and allows the Independent Vivo Directors to consider its future and evaluate Vitol's offer from a position of strength," John Daly, Vivo Chair.