The Oil Libya Holding Company wants to buy Shell’s oil distribution activities in 21 African countries. The company is willing to invest US$ 2 billion for the deal to be closed.
From the Newsroom*
São Paulo – The Oil Libya Holding Company wants to invest US$ 2 billion to purchase Shell’s assets and control its activities in Africa. The news were published by the African news agency Panapress. The Dutch/British company Shell’s African asset sale offer was announced by the company’s legal advisor in Tunisia, Faiçal Werfelli, and encompasses 21 countries in the continent, South Africa not included.
Shell should announce the name of the selected company before the end of the month. The Oil Libya Holding Company is an arm of the Libya Africa Portfolio (LAP), which has a capital of US$ 800 million and also owns the Libya Arab Africa Investment Company (Laaico), the Libya Africa Financial Company (Lafico), airline Afriqiya, and the Sahelo-Saharan Investment and Trade Bank (BSIC).
"This decision is part of our drive to refocus our global downstream footprint into fewer, larger markets. Our companies in Africa are profitable, and initial studies have shown that potential buyers are interested in these companies," said the executive vice president of Shell Oil Products Africa, Xavier le Mintier, upon announcing the intention of sale.
The Oil Libya Holding Company already has offices in several African countries, among them Burkina Faso, Cameroon, Ivory Coast, Djibouti, Egypt, Eritrea, Ethiopia, Gabon, Kenya, Mali, Morocco, Niger, Nigeria, Senegal, Sudan, Chad, Tunisia, Uganda and Mauritius. It supplies kerosene to airports in Tunisia, Morocco, Cameroon, Niger, Senegal, Burkina Faso, Mali, Djibouti, Ethiopia and Sudan.
The Oil Libya Holding Company has 1,250 gasoline distribution stations which employ 2,800 people in African countries. The company sells 4 billion litres of fuel per year. The Oil Libya Holding Company was established in 2008, by the Libyan government, to extend Libyan oil operations into the African continent and Latin America.
*Translated by Gabriel Pomerancblum
