Vivo Energy Looks to Pocket $1.8m from Asset Sale

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Vivo Energy, a Kenyan downstream energy operator, has put up for sale its Nairobi Jogoo Road petrol station land and developments for a reserve price of Sh180 million.

Vivo Energy said in its sale advert that the 0.6 acre parcel of land would be sold alone as all existing branding materials on the site will be removed, meaning the new owner will be allowed to continue operating the facility as a petrol station under any other petro reseller’s brand or change use to any other investment.

The fuels and lubricants reseller who recently recorded the highest growth rate in petroleum sales—at 2.6 per cent to tie market share with Kenol Kobil at 18.5per cent—said willing buyers are expected to pay a Sh10,000 fee for bid forms that will be collected at Vivo Energy headquarters in Nairobi between September 1 and 8, Business Daily reported.

Bidders will have an opportunity to visit the property on September 5th and 6th with applicants given up to September 11 to forward sealed bids.

Vivo Energy is the company behind the Shell brand in Africa and is jointly owned by Vitol, Helios Investment Partners and Shell. It was established on December 1, 2011, to distribute and market Shell-branded fuels and lubricants. Its operations span 16 countries across Africa and encompass the supply, storage, distribution, and retail of a range of petroleum products.

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