MCB Capital Markets Facilitates Disposal of Ceejay Gas to Vivo Energy

MCB Capital Markets, the esteemed investment banking arm of MCB Group, has played a pivotal role as Transaction Advisor in the recent sale of Ceejay Gas Ltd (“Ceejay Gas”) to Vivo Energy. This strategic transaction marks a significant milestone in the energy sector, particularly in Mayotte, with far-reaching implications for both companies involved.

Ceejay Gas, a prominent player in Mayotte’s liquefied petroleum gas (“LPG”) market, has enjoyed a commendable reputation as the leading importer, bottler, and distributor of LPG in the region for the past 25 years. With a steadfast commitment to Health, Safety, Security, Environment, and Quality (“HSSEQ”), Ceejay Gas has emerged as the undisputed market leader, operating a state-of-the-art 1,000 metric tonne storage and bottling facility in Longoni. The company’s extensive distribution network spans approximately 140 retail outlets, catering to industrial customers and end-consumers alike.

For Vivo Energy, a dynamic energy company with a strong operational footprint across Africa, the acquisition of Ceejay Gas aligns seamlessly with its strategic growth objectives in the region. With established operations in Mauritius, Madagascar, Reunion, and East Africa, Vivo Energy is well-positioned to leverage Ceejay Gas’s market expertise and infrastructure to further expand its presence and enhance its service offerings in Mayotte.

Upon the successful completion of the transaction, Vivo Energy assumed full control of Ceejay Gas’s operations through its subsidiaries, including Somagaz SAS, Sigma SAS (responsible for procurement, storage, and bottling), and SN Somagaz SAS (responsible for distribution) in Mayotte. This strategic acquisition underscores Vivo Energy’s commitment to sustainable growth and underscores its dedication to delivering value to its stakeholders.

Anil Currimjee, Chairman of Currimjee Jeewanjee and Company Limited and former Director of Ceejay Gas, expressed his satisfaction with the agreement reached with Vivo Energy, emphasizing the latter’s commitment to nurturing and expanding the business while ensuring continuity for employees. He extended his gratitude to the team for their contributions in establishing Ceejay Gas as a market leader and commended MCB Capital Markets for their invaluable guidance throughout the transaction process.

Rony Lam, Chief Executive Officer of MCB Capital Markets, lauded the successful conclusion of the transaction, highlighting the team’s expertise in executing cross-border M&A sell-side transactions. He expressed gratitude to the client for entrusting MCB Financial Advisers and wished Vivo Energy success in building upon the strong foundation laid by Ceejay Gas.

Legal advice for the shareholders of Ceejay Gas during the transaction was provided by Burges Salmon LLP, further underscoring the collaborative effort and expertise involved in facilitating this landmark deal. As the energy landscape continues to evolve, the strategic partnership between Vivo Energy and Ceejay Gas sets a precedent for future growth and innovation in the sector, signalling promising opportunities on the horizon.