Vivo, CH Group conclude share transfer deal
from MASAHUDU KUNATEH in Accra, Ghana
ACCRA, (CAJ News) -VIVO Energy Ghana will relinquish an 8 percent stake to CH Group.
It is unclear how much CH Group will pay for the shares.
However, a joint statement said a deal had been concluded.
“Vivo Energy Ghana Limited has been working closely with both the National Petroleum Authority and the Ministry of Energy and Petroleum in order to increase local ownership of the company,” read a statement.
“The company looks forward to its continued constructive and positive relationship with all stakeholders as it continues to grow and develop its business, providing employment opportunities for local Ghanaians and high quality Shell-branded fuels and lubricants for its customers in Ghana.”
The sale of the shares which is subject to a number of formalities that are typical for an acquisition of this nature, when completed, will result in local Ghanaian shareholdings in Vivo Energy Ghana Limited increasing to a little over 25 percent.
– CAJ News
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