Sale of 52 service stations to Nasan Energies goes through

Vivo Energy Namibia completed the sale of 52 Engen and Shell-branded service stations to Nasan Energies on Wednesday.

“Nasan Energies is now the owner and operator of these sites, marking the conclusion of the divestment process and a defining moment for Namibia’s energy sector,” Vivo Energy spokesperson Lazarus Nafidi said in a joint press release.

The Shell-branded fuel stations will be rebranded immediately, while Engen-branded fuel stations will be rebranding at a later date, Nafidi said.

Vivo Energy was required to divest the fuel stations after purchasing Engen Limited from Petronas in May 2024.

The sale was required by the Namibian Competition Commission as a condition for approving that purchase.

“Completion of this transaction represents the fulfilment of our regulatory commitment to the Namibian Competition Commission and to the people of Namibia.

“We wish Nasan Energies every success as they take ownership and build on the strong foundations that have been established at these stations,” Vivo managing director Johan Grobbelaar said.

As of Wednesday, all the service stations are owned and supplied by Nasan Energies.

“We have taken full ownership and operational responsibility for these service stations and are committed to delivering the highest standards of service and reliability to our customers from day one,” Nasan Energies co-founder Miguel Hamutenya said.

The competition commission allowed Nasan Energies to acquire the fuel stations in March, after it investigated potential links between Nasan and Vitol – a major oil trader that is the parent company of Vivo Energy.

A condition of the acquisition is that Nasan Energies will not be allowed to purchase fuel from Vitol for the next five years, which Nasan is currently contesting.

The purchase makes Nasan Energies Namibia’s third-largest fuel retailer.

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المصدر: The Namibian