Appleby Mauritius, advised Royal Dutch Shell PLC (“Shell”) in connection with the US$1 bn sale of the majority of its shareholdings in its downstream African businesses as part of a programme of sales of its non-core operations.
Under the terms of the deal, Vitol, the world’s largest oil trader, and Helios Investment Partners, an Africa-focused private equity group, will own 80 per cent of a new joint venture. The remaining 20 per cent will be controlled by Shell who will continue to operate the oil major’s existing oil products, distribution and retailing businesses in 14 African countries including Tunisia, Senegal, Ghana, Cap Verde, Madagascar, Kenya, Morocco, Egypt, Uganda, Guinea, Mali, Burkina Faso, Cote D’Ivoire and Mauritius, with the potential to add five more in the future.
As part of the overall restructuring of the Shell Group in the African region, Appleby also advised Shell Mauritius Limited, a subsidiary of Shell Overseas Holdings Limited and a listed company on the Stock Exchange of Mauritius (“SM”), in respect to the sale of 75% of SM issued share capital to Vivo Energy Holding, a newly created joint venture between the Vitol Group, Helios Investment Partners and Shell.
The Appleby team, led by partner Gilbert Noel and assisted by associate Ashley Oogorah, advised Shell on the listing rules of the Stock Exchange of Mauritius and other regulatory framework. Allen & Overy was the lead counsel on the global restructuring of Shell across Africa along with Shell’s in-house professional team.
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