Puma Energy builds liquefied petroleum gas business
Puma Energy, completes acquisition of 100% of the issued share capital of Vitogaz Senegal SA.
3 July 2012 - Puma Energy LLC (“Puma Energy”), the global mid and downstream oil company, has completed the acquisition of 100% of the issued share capital of Vitogaz Senegal SA. The principal asset is a 5,000m3 Liquefied Petroleum Gas ("LPG") terminal in the port of Dakar, Senegal.
The acquisition is another step in the development of Puma Energy and marks the company’s continued expansion into LPG in Africa following the acquisition of a 5,000m3 LPG terminal in Benin in April this year. The acquisition will add to Puma’s fast-growing African presence, add an additional 39 members of staff and become the 31st country worldwide that Puma operates within.
Puma also sees this acquisition as a stepping stone for further growth and infrastructure development in the country’s LPG market. Senegal is the largest LPG market in Africa by penetration per capita.
Commenting on today’s announcement, Puma Energy's head of Africa Christophe Zyde said: "Puma Energy prides itself on partnering with developing markets. We hope to develop both our LPG business and our presence in Senegal quickly."
"This is an exciting development for Senegal and for Puma Energy. We look forward to honouring all existing contractual commitments and will continue to invest in the country.” added Pierre Vuillier, General Manager of Vitogaz Senegal who will remain with Puma Energy following the acquisition.
Vitogaz Senegal SA will be renamed Puma Energy Senegal SA and the business will be rebranded accordingly.