Vivo acquires majority shares in Shell Ghana, rebrands itself

Vivo Energy announced that it has acquired a majority share in Shell Ghana Limited. With the acquisition, Shell Ghana is also changing its name to Vivo Energy Ghana.
Vivo Energy is a company formed by Vitol, Helios Investment Partners and Shell, to distribute and market Shell-branded fuels and lubricants across Africa.
The new company would be headed by Fred Osoro as managing director. He would take over from Vincent Richter, the former acting managing director.
Osoro has 20 years’ experience in the energy industry during which he has held various management and marketing positions for Esso, Mobil and Engen. His appointment to the board will be formalized at the next board meeting.
“We are acquiring a business with great potential; a long history in Ghana, a high caliber workforce and a large and diversified customer base. Vivo Energy is looking forward to serving our Ghanaian customers and investing in the business, to ensure it realizes its full potential under Fred Osoro’s leadership,” said Christian Chammas, CEO of Vivo Energy.
The Shell brand has been in Ghana for 85 years and Shell has been the leading marketer of fuels and lubricants. Vivo Energy Ghana has a large storage capacity and 124 retail stations with the majority offering the ability to pay with Shell cards and shop at convenience retail stores.
Vivo Energy Ghana employs 134 people directly and provides indirect employment to more than 1,000 people. The company is recognized as the leader in the oil industry, especially championing and setting standards for safety in sales and distribution.
This is the latest development in a venture initially announced in February 2011. It brings to 15 the number of African markets in which Vivo Energy has a presence.
(August 2, 2013)