Vivo Energy Namibia will start selling and distributing Liquefied Petroleum Gas (LPG) as part of its business offerings under the GasIt trademark, following the completion of the acquisition of the assets and business conducted by Triple J Energies Proprietary Limited for an undisclosed amount.
The acquisition positions Vivo Energy Namibia as the first oil marketer to operate its own brand of LPG in the Namibian energy space.
“The acquisition of GasIt is a significant milestone for us, as it enables us to enter the
LPG market and deliver further value and convenience to our customers,” said Vivo Energy Namibia managing director Edward Walugembe.
Vivo Energy and Triple J Energies have undertaken extensive planning and preparation to minimise any potential challenges, with existing contracts, agreements, and pricing structures remaining unchanged as the businesses are integrated.
“Triple J Energies’ decision to reshape its portfolio is driven by a new phase of its development and evolving business priorities towards emerging markets.
We believe Vivo Energy Namibia is best placed to take over and operate the GasIt business. We have taken all measures to ensure the change of control is seamless for all our local customers and suppliers.
We wish to sincerely thank our partners in Namibia for their support over the last 11 years,” Triple J Energies managing director Jorge Machado said.
This comes after the Namibian Competition Commission conditionally approved the deal.
Vivo Energy Namibia distributes and markets Shell-branded fuels and lubricants in Namibia.
Triple J, using the trade name ‘GasIt’, is a 100% Namibian LPG bulk and cylinder distribution company operating since 2012, focused on supplying LPG to all sectors of the market. – The Brief
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