Portugal: Galp Energia concludes purchase of Shell’s distribution business in Mozambique

17 September 2008

Lisbon, Portugal, 17 Sept – Galp Energia announced Friday in Lisbon it had concluded its acquisition of the oil products distribution business of Royal Dutch Shell in Mozambique, where it will now have a market share of 14 percent.

The company also said that acquisition of Shell’s fuel distribution businesses in Swaziland and the Gambia were also underway, in a deal worth an estimated total of US$55 million.

The Portuguese oil company said that acquiring the three units, “will make it possible to increase fuel distribution sales by 45 percent and for greater geographical diversification in Africa, with market shares of between 15 and 40 percent, and will also develop businesses in the MOzambique-Swaziland and Cape Verde-Guinea Bissau-Gambia axes.”

In Africa Galp Energia is currently involved in the fuel distribution business in Angola, Cape Verde, Guinea Bissau and Mozambique. (macauhub)