Transaction tax

Akin Gump advises Vitol on the acquisition of Vivo Energy for 2.3 billion dollars

(London) – Akin Gump advised VIP II Blue BV, a wholly owned subsidiary of Vitol Investment Partnership II Ltd (VIP II), in its $2.3 billion takeover of Vivo Energy Plc by way of arrangement. VIP II is an investment vehicle advised by commodity trader Vitol. The plan was declared effective and the transaction closed on July 25, 2020, after receipt of regulatory approvals and shareholder approval.

VIP II paid $1.79 per Vivo Energy share, plus an additional $0.06 per share in the form of a final and special dividend from Vivo Energy. Vivo Energy operates a network of 2,330 service stations and distributes and markets Shell and Engen branded fuels and lubricants in 23 African countries. It was founded after Shell divested part of its downstream business in 2011. Vitol, Helios (formerly Vivo’s second largest shareholder) and Shell operated Vivo as a joint venture before buying Shell in 2016.

Akin Gump Partner Harry Keegan, who leads the team advising Vitol and VIP II Blue, said: “We are delighted to have seen this transaction, which Vitol considers a pillar of its strategy in Africa, complete. . We are proud to support Vitol in such an important strategic development.

In addition to Mr. Keegan, Akin Gump’s core team included corporate lawyer Harpreet Hundal and partner George O’Malley, contest partner Scott Pettifor, tax partner Stephen Brown and the financial partner Amy Kennedy and partners Will Dyson and Adair Cook.

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 attorneys and advisors in offices in the United States, Europe, Asia and the Middle East.

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