Vivo Energy is to acquire 100% of the shares in TotalEnergies Marketing Jordan. On completion of the transaction, Vivo Energy – which currently operates around 4,000 service stations across 28 markets – will take over TotalEnergies Marketing Jordan, including its network of around 180 service stations in Jordan, together with its commercial fuels and lubricants operations.
Stan Mittelman, CEO for Vivo Energy, comments: ‘This agreement marks an exciting new step for Vivo Energy as we expand beyond our current 28 markets into Jordan – a market with strong and stable fundamentals and a talented workforce. We share a common focus on safety, operational excellence, and customer service, and look forward to supporting continued growth in the market.’
Mittelman adds: ‘This acquisition aligns perfectly with our strategy to build a stronger, more diversified downstream energy company. Upon completion, we intend to introduce our Engen retail brand, and bring additional technical expertise and innovation to Jordan, while respecting and learning from the deep local knowledge and experience of the existing team.’
Completion of the transaction is subject to regulatory approvals and fulfilment of conditions precedent. Until completion, TotalEnergies will continue to operate the business and will work closely with Vivo Energy to ensure a smooth transition for employees, dealers, partners and customers.
