Tribunal gives nod to Engen’s new Dutch-Swiss owners with host of conditions
The Competition Tribunal has approved a takeover of SA’s largest fuel service network Engen by Dutch-Swiss commodities group Vitol, but has imposed a host of conditions, including on procurement and employee ownership.
The deal was first made public in February 2023, with Malaysia’s national oil company Petronas agreeing to sell its 74% stake in Engen to Vivo Energy, a move that will create one of the continent’s largest distributors of fuel and lubricants. Engen markets and sells petroleum products through over 1 000 branded service stations it and operates over two dozen terminals and depots. It employed about 3 000 people as of 2022.
Vivo, owned by Vitol, owns 2 700 service stations across 24 African countries. It didn’t previously operate in South Africa, but elsewhere on the continent it owns service stations under the Engen and Shell brand. In 2018, Vivo moved to acquire the Engen business in nine African markets.
South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we’re about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.
Post Publications || Join us on Whatsapp || Post Disclaimer
SEND A STORY: Do you have a story for us or need a promotion/advertisement? Submit them via our email admin@edulearnweb or Ghanaeducation.org
TELEGRAM PAGE >>> [JOIN]
DOWNLOAD OUR EDUCATION NEWS APP - MOBILE APP
JOIN OUR EDUCATION NEW GROUPS (WHATSAPP)
Join one of our Whatsapp/Telegram Groups for current Ghana Education Service News Updates:
JOIN ONLY ONE... THANKS
TELEGRAM PAGE >>> [JOIN]
Group 1 >>New Group> [JOIN]
Group 2 >>New Group> [JOIN]
TELEGRAM PAGE >>> [JOIN]
Only websites that give us a URL backlink can repost our content on their sites.
The information contained in this post is for general information purposes only. The information is provided by edulearnweb.com and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
||About Us|| Contact Us