The Bhunjun Group is pleased to announce that it has reached an agreement with Vivo Energy toacquire 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 completed the purchase of 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 the combination of Vivo Energy and Engen in Mauritius could impact market competition. To uphold a fair and dynamic market, Vivo Energy committed to divest the Engen Mauritius business.

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.”

This transaction is a historic milestone for Mauritius, as it marks the first time a fully Mauritian company will own and operate a retail petroleum network in the country. This represents not only a strategic expansion for the Bhunjun Group, but also a proud moment for local enterprise and economic empowerment.

“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 Engen Mauritius’ employees, 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.