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Vivo closes Engen purchase, excludes DRC

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(Reuters) – Africa retail fuel venture Vivo Energy <VVO.L> has reached a promised deal to purchase a network of filling stations owned by Engen Holdings with the exclusion of operations in the Democratic Republic of Congo, the firm said on Tuesday.

The deal, first announced on Dec. 4, will close on March 1, 2019 but will not include Engen’s international operations in the DRC, Vivo said, adding that discussions about the country were ongoing between the companies.

Vivo Energy debuted on the London Stock Exchange in May with a valuation of nearly 2 billion pounds (£2 billion), the largest Africa-focused IPO in more than a decade.

(Reporting by Noor Zainab Hussain in Bengaluru)

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