The competition watchdog has approved the sale of an additional 20 per cent stake in Vivo Energy owned by petroleum giant Shell to Dutch firm Vitol, paving the way for Shell’s complete local exit and majority ownership by the buyer.
Anglo-Dutch firm Shell announced last December the intention to sell off its remaining stake in the Kenyan unit for Sh25.5 billion ($250 million), making full exit after the process kicked off in 2011.
