Bhunjun Group acquires Engen Mauritius from Vivo Energy

Vivo Energy and The Bhunjun Group?have announced?that?they have?reached an agreement?for the latter to acquire?Engen’s operations in Mauritius. This milestone transaction marks a new era for the business, providing a strong foundation for growth, innovation, and continued excellence in serving Mauritian customers. 

On completion of the transaction, Bhunjun Group?–?through its subsidiary Beta Oil Terminal Ltd?–?will enter the downstream retail fuel market, taking over 37 service stations and Engen’s commercial business across Mauritius. This acquisition represents a significant step forward for Bhunjun Group. 

In May 2024, Vivo Energy purchased Engen Limited from Petronas, which included the Engen Mauritius business. However, as part of the regulatory process, the Competition Commission of Mauritius (CCM) determined that combining Vivo Energy and Engen in Mauritius could impact market competition. Vivo Energy is committed to divesting the Engen Mauritius business to uphold a fair and dynamic market.? 

Following?a?thorough?evaluation process that assessed both technical?expertise?and financial proposals, the Bhunjun Group,?with?its?extensive experience in?global?petroleum shipping,?was selected?as the preferred buyer?from a competitive field?of?bidders. 

Veekram Bhunjun, CEO of the Bhunjun Group, stated: “We are excited to enter the retail fuel market in Mauritius through this acquisition. Our extensive experience in petroleum shipping has prepared us well for this opportunity, and we look forward to building on Engen’s strong presence in the market.” 

“We are pleased to have reached this agreement with the Bhunjun Group, which will ensure the continued competitive operation of Engen’s assets in Mauritius,” said?Stan Mittelman,?CEO, Vivo Energy. “This transaction?not only fulfils?the regulatory requirements?to maintain the competitive landscape of fuel operators in Mauritius, but also provides certainty and opportunity for not only Engen Mauritius’ employees, but also customers and partners. We look forward to working closely with the Bhunjun Group to?ensure?a smooth transition?and continued success.” 

The acquisition remains subject to pending statutory approvals.