Vitol to list African venture Vivo, cancels Varo float

(Reuters) – Vivo Energy, the African fuels supplier owned by oil trading giant Vitol and Helios Investment Partners, will float on the London Stock Exchange and the Johannesburg Stock Exchange, the company said on Tuesday.

The public offering of the company, which sells Shell-branded (RDSa.L) fuels and lubricants in 15 African countries, is one of a string of large listings expected in Europe, which is on course for its busiest start to the year since 2015.

Vitol’s European refining and downstream venture, Varo Energy, was also expected to float in Amsterdam this year, but in an announcement later on Tuesday, Varo said it had canceled those plans due to poor market conditions.

Prior to Vivo’s float, Britvic (BVIC.L) Chairman John Daly will become chairman of Vivo, the company…

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