Puma Energy Buys Kobil

Puma Energy LLC (“Puma Energy”) has acquired majority stake in KenoKobil Limited commonly known in Rwanda as KOBIL.

Patrick Meyer the Puma Energy head of Coporate Affairs at Global level told IGIHE that Puma Energy has signed an exclusive agreement with the key shareholders of KenolKobil Limited (“KenolKobil”) to acquire a majority stake in KenolKobil.

He explained that the exclusive agreement is conditional on due diligence, price confirmation and regulatory approval.

KenolKobil is listed on the Nairobi Securities Exchange, and is one of East Africa’s largest oil marketing companies operating across 10 countries in Africa.

Any subsequent transaction, which is conditional on due diligence and regulatory approvals, would add: US$ 2.5 billion of net sales; A strong asset base, including over 400 retail service stations and 180,000m3 of storage capacity;
Strong strategic fit with Puma Energy’s existing businesses;
Important new markets to Puma Energy’s African presence, including Kenya, Uganda, Rwanda, Ethiopia and Burundi; and a highly skilled employee base of 557 and a highly experienced management team.

Puma Energy was formed in 1997 focusing on emerging markets and has grown rapidly in the midstream and downstream oil sector. Headquartered in Switzerland, Puma Energy now operates in 29 countries around the world.

As well as operations in eleven countries across North and South America, Puma Energy has been working in Africa for a decade, and now operates in twelve countries across West, Central and Southern Africa. The company has oil storage terminals in northern Europe, the Middle East and South East Asia, with planned developments in India.

Puma Energy is one of the fastest-growing midstream and downstream oil companies in the world, and continues to invest heavily in Africa, strategically partnering across the continent with key emerging African players including Sonangol, the national oil company of Angola.