Vivo Energy's acquisition of PETRONAS' 74% stake in Engen Limited enables it to enhance its market position and operational efficiency, particularly in the burgeoning Democratic Republic of Congo energy sector.

Information on the Target

In May 2024, Vivo Energy announced its acquisition of PETRONAS' 74% stake in Engen Limited, which includes Engen's operations in the Democratic Republic of Congo (DRC). This strategic move marks a significant milestone for Vivo Energy, as it aims to enhance its presence and capabilities across the African energy market.

The combination of Vivo Energy and Engen's assets positions the newly enlarged company as a formidable player, introducing an expanded portfolio of services and products. By leveraging Engen's established local operations and customer relationships in the DRC, Vivo Energy is poised to drive growth and create synergies that continue to benefit consumers and stakeholders alike.

Industry Overview in the Target’s Specific Country

The Democratic Republic of Congo is rich in natural resources and has a growing energy sector, particularly in fuel distribution. The country relies heavily on oil imports to meet the increasing energy de