Vivo Energy completed the acquisition of a 74% stake in Engen from Petronas.

Vivo Energy, a British downstream petroleum company, completed the acquisition of a 74% stake in Engen, South Africa’s largest fuel-station chain, from Petronas, a Malaysian oil and gas company. Financial terms were not disclosed. "Vivo Energy’s focus has been to invest to grow our business, and I am proud that we have more than doubled the size of our network since our formation in 2011. Four years ago, we acquired the Engen business in nine African markets, and have since worked to enhance and develop these. Vitol’s acquisition of 100% of Vivo Energy last year brings more opportunity to grow even faster. Completion of this transaction, which reunites the Engen brand across Africa, will be a step change in our growth and represents a significant commitment to the South African market whilst enhancing Vivo Energy’s portfolio in other important markets," Stan Mittelman, Vivo Energy CEO.