Engen has completed an agreement to acquire Chevron’s interests in Mozambique, adding to its existing network of 13 fuel service stations in the country. Since 1996, Engen has established a presence from Maputo Province in the south to Cabo Delgado in the north of the country.
Teodomiro Sarmento, Managing Director of Engen Mozambique, said the deal has met all local regulatory requirements. He also said that Chevron’s business would not be affected in the immediate term. "The operation will carry on trading as a going concern; existing staff and relationships will be retained; and the supply plan is in place to ensure uninterrupted product and service supply," he insisted.
Engen has acquired assets from Chevron (which trades as Caltext in some territories) in Malawi, Tanzania, Zambia and Mauritious. Nizam Salleh, MD and CEO of Engen Petroleum, said the transaction was part of the company’s ambitious growth strategy. “The acquisition is in line with Engen's programme of mutually-beneficial sustainable growth opportunities in sub-Saharan Africa and the Indian Ocean Islands, where it has a footprint in 21 countries and export agreements to 30 more,” he said.
"Our Vision for growth focuses mainly on Sub Saharan Africa. This is a stride forward in our programme for sustainable growth in the region that works to the common benefit of the company, the countries involved and even the continent. The potential for development and growth here is enormous and we are very proud to be part of it," added Salleh.
PetrolWorld 28102011
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