ON THE SPOT
GIULIETTA TALEVI: Vivo Energy on the right track preparing for tomorrow’s world on the continent
Vivo Energy hasn’t exactly lit up the JSE since plumping for a secondary inward listing on SA’s bourse, having gone public on the London Stock Exchange in May 2018. Part-owned by private equity group Helios Investment partners, trading giant Vitol and oil group Shell, Vivo is nonetheless a stock to watch for investors with an eye to benefiting from African economies’ growth. The company is also in the throes of buying more than 300 Engen-branded service stations, although the deal is taking longer than some would like. Business Day asked CEO Christian Chammas (CC) and chief financial officer Johan Depraetere (JD): Why is the Engen purchase taking so long? CC: There’s still one remaining country that has to be closed [the Democratic Republic of Congo]. It is a work in progress, we’re avoiding to put too much haste in it to avoid falling into obvious traps, so that will come when it will come. How key is the Engen deal? CC: It is a fast-track way of growing when you’re not in countri...
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