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  • Engen expands in Rwanda, Burundi and Guinea Bissau
    édité le 25/11/2008 - Plus de news de "Engen" - Voir la fiche entreprise de "Engen"

Engen expands in Rwanda, Burundi and Guinea Bissau
Engen, the African petroleum products marketer, has again increased its African footprint, with the acquisition of Total’s operations in three African countries – Guinea Bissau, Rwanda and Burundi, effective 19 November 2008.

The deal, signed on 31 July 2008 in Paris, France, comprises:

- Total’s entire shareholding in its downstream businesses in Rwanda (Rwanda SARL),
- Total’s entire shareholding in its downstream businesses in Total Burundi
- 85.11% shares in Total Guinea-Bissau (14.89% is held by a private investor), and
- 50% of Aero Services SARL (the balance is held by Petrogal Guinea Bissau Ltd).

Rwanda SARL includes 19 service stations and operates one depot, representing sales of 38 million tons a year for 22% share of the market.

Taking over Total Burundi will complement Engen’s existing business in that country with 29 additional commercial customers, representing 1% share of the market (3.8 million tons per annum).

Engen’s acquisition of 85.11% of shares in Total Guinea Bissau will give it access to four service stations and 37 commercial customers, for 29% market share (15.4 million tons per annum). And for 50% in Aero Services SARL Engen will obtain Jet A1 fuel storage, Avgas storage and into-plane refuelling truck capacity.

African odyssey

Engen CEO and MD Rashid Yusof says the deal further strengthens Engen’s position on the continent. The company has this year already taken over Shell’s controlling interests in two African businesses, namely Lesotho and Gabon as well as DRC interests in 2007.

Engen’s International Business Development division recorded a significant increase in profits for the 2007/8 financial year, and will increasingly become a pivotal growth engine.

Origine : Communiqué Engen

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