Vitol’s $2.3 Billion Takeover of Vivo Energy

In UK Akin Gump Strauss Hauer & Feld LLP, advised on the matter.

Akin Gump Strauss Hauer & Feld LLP advised Vitol Group with a team including Harry Keegan (Picture – Equity Capital Markets), Amy Kennedy (Equity Capital Markets).

VIP II Blue B.V, a wholly-owned subsidiary of Vitol Investment Partnership II Ltd (VIP II), announced its $2.3 billion takeover of Vivo Energy Plc. VIP II is an investment vehicle advised by the commodities trader Vitol. The deal is subject to shareholder approval and has been recommended by the board of Vivo Energy.

Vitol first reached terms to buy out Helios Investment Partners, the second biggest shareholder, before approaching the board of Vivo Energy about taking the entire company private.

VIP II Blue is offering $1.79 per Vivo Energy share, plus up to a further $0.06 per share in the form of Vivo Energy dividends.

Vivo Energy operates a network of 2,330 service stations, and distributes and markets Shell- and Engen-branded fuels and lubricants, in 23 countries across Africa. It was founded after Shell divested some of its downstream business in 2011. Vitol, Helios and Shell operated Vivo as a joint venture before buying out Shell in 2016.

The Akin Gump team was led by Harry Keegan (Picture). It also included corporate associate George O’Malley and counsel Harpreet Hundal, competition counsel Scott Pettifor, finance partner Amy Kennedy and finance associates Will Dyson and Adair Cook.

Involved fees earner: Adair Cook – Akin Gump Strauss Hauer & Feld LLP; Will Dyson – Akin Gump Strauss Hauer & Feld LLP; Harpreet Hundal – Akin Gump Strauss Hauer & Feld LLP; Harry Keegan – Akin Gump Strauss Hauer & Feld LLP; Amy Kennedy – Akin Gump Strauss Hauer & Feld LLP; George O’Malley – Akin Gump Strauss Hauer & Feld LLP; Scott Pettifor – Akin Gump Strauss Hauer & Feld LLP;

Law Firms: Akin Gump Strauss Hauer & Feld LLP;

Clients: Vitol Group;

Author: Giulia Di Palma