Vivo Energy said on Tuesday that it had secured regulatory approvals to buy Engen’s international operations in eight new countries, plus Engen’s operations in Kenya, in a $203.9m deal that will be settled in cash and shares. Vivo Energy’s retail service station network will expand from 15 to 23 countries in Africa when the deal is closed on March 1, the company said in a statement. The new markets are Gabon, Malawi, Mozambique, Réunion, Rwanda, Tanzania, Zambia and Zimbabwe. The Democratic Republic of Congo will be excluded from the tweaked transaction as the talks to attain regulatory approval are still underway. Vivo — which listed on the London Stock Exchange and JSE earlier in May, has previously described the transaction as a "game changer" for the company — already owns and operates more than 1,800 Shell service stations in 15 countries on the continent. Vivo will issue 63.2-million new shares at 165p per share, while $62.1m will be settled in cash. As a result, Mauritius-dom...

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