Its directors want to improve the group’s access to new capital markets, bolster growth and attract key talent.By 2017, Vivo had an overall market share of 23% across North, West, East and Southern Africa and recently agreed to a share deal with Engen, which will add nine new retail countries and more than 300 service stations to its 1,800-strong portfolio.There’s only one sure-shot way to pull that off without months of tussling: Axe needs to give up his license to trade, which he does with a face that looks like it’s been chewing a wasp.Taylor has also figured out what makes these guys tick, and after jumping in to promise they’ll uphold (at minimum) last year’s bonuses — even though Taylor is NOT authorized to make that claims, as Wags later reminds them in private — you can see the climate in the room instantly shift.
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Vivo was set up in 2011 as part of the carve-out of Shell’s African downstream business and its majority shareholders — Dutch energy group Vitol, African-focused private equity firm Helios Investment Partners and Shell itself — are now cashing out.
Chairman-elect John Daly said the listing would provide "an excellent platform for the next stage of the company’s development".
A prelisting statement said Vivo opened a new service station and shop or food outlet every three days between 20.
Its prospectus will be published "in due course" but, for now, the company has given a three-year snapshot of its earnings, which culminated in full-year earnings before interest, tax, depreciation and amortisation (ebitda) of 6m in the year to end-December 2017.