{"id":71532,"date":"2018-04-10T15:36:26","date_gmt":"2018-04-10T15:36:26","guid":{"rendered":"http:\/\/www.bnreport.com\/africa-focused-petrol-station-owner-reveals-plans-to-float-in-london\/"},"modified":"2018-04-10T15:36:26","modified_gmt":"2018-04-10T15:36:26","slug":"africa-focused-petrol-station-owner-reveals-plans-to-float-in-london","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/africa-focused-petrol-station-owner-reveals-plans-to-float-in-london\/","title":{"rendered":"Africa-focused petrol station owner reveals plans to float in London"},"content":{"rendered":"

<\/p>\n

A leading Africa-focused petrol station owner will launch a premium listing of its shares on the London Stock Exchange next month in a deal that has previously been valued at $3bn (\u00a32.1bn)<\/a>.<\/p>\n

Vivo Energy, one of Africa's largest retailers, operates around 1,800 Shell-branded petrol stations across 15 African countries.<\/p>\n

The firm aims to capitalise on high growth markets across the continent, and between 2012 and 2017 it added more than 500 service stations to its portfolio.<\/p>\n

Read more<\/strong>: What is the outlook for London listings in 2018?<\/a><\/p>\n

Chief executive Christian Chammas told City A.M. the firm plans to match that rate of growth over the next five years.<\/p>\n

"The listing will give us access to capital if acquisitions come around," added Johan Depraetere, the company's chief financial officer.<\/p>\n

Vivo, which will also be "anchoring" itself in Africa with a Johannesburg stock market listing next month, was established in 2011 when Shell carved out the majority of its African downstream business.<\/p>\n

It is jointly owned by oil trader Vitol and Africa-focused buyout firm Helios Investment Partners.<\/p>\n

The firm said now was the time to list in London "given the group's current scale and level of maturity".<\/p>\n

\u201cBringing Vivo Energy to the public markets will enable us to further grow the business and strengthen our market leading position across Africa," Chammas said.<\/p>\n

"Vivo Energy has a track record of strong growth and financial performance. We are excited about the opportunities to take the business forward and believe we have all the necessary attributes to succeed as a listed company.\u201d<\/p>\n

The firm revealed John Daly, who is currently the chairman of Britvic and also sits on the boards of Ferguson and G4S<\/a>, will join Vivo as chairman.<\/p>\n

Daly said:<\/p>\n

\n

The group has a robust corporate governance framework in place and its exposure to Africa means Vivo Energys growth story is supported by compelling macro drivers.<\/p>\n<\/blockquote>\n

Vivo operates in countries with high growth markets, experiencing rapid urbanisation, vehicle uptake and consumer spending.<\/p>\n

Last year, Vivo had adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) of $376m (\u00a3265m), up from $302m in 2016.<\/p>\n

In December 2017, the firm revealed a deal to buy Engen to expand the company's geographical retail footprint to a further nine African countries, adding over 300 service stations. The deal is expected to be completed in the third quarter of this year.<\/p>\n

Read more<\/strong>: An Africa-focused petrol station chain is preparing a London IPO<\/a><\/p>\n

<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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