Amsons Group to Acquire Oryx Energies' Downstream Oil Business in Tanzania
Amsons Group has signed an agreement to acquire Oryx Energies' downstream oil business in Tanzania, including retail fuel stations, storage terminals and distribution infrastructure, subject to regulatory approvals.
Tanzanian conglomerate Amsons Group has signed an agreement to acquire the Tanzanian business of Oryx Energies, in a transaction that would expand Amsons' footprint in the country's petroleum storage, distribution and retail fuel market.
The proposed acquisition includes key Oryx Energies assets in Tanzania, such as fuel storage depots, service stations and its petroleum products distribution network.
According to Amsons Group Chief Executive Officer Edha Nahdi, the transaction supports the group's strategy of increasing investment in the energy and transport sectors. The combination of Oryx Energies' storage and distribution infrastructure with Amsons' existing operations is expected to enhance Tanzania's role in regional energy trade and logistics.
Moussa Diao, Chief Executive Officer of Oryx Energies, stated that the company is confident in Amsons' ability to further develop the business while creating opportunities for employees, customers and commercial partners.
The transaction forms part of Oryx Energies' broader strategic review of its petroleum distribution investments across Africa as it seeks to focus on energy infrastructure and selected priority markets.
Oryx Energies has operated in Tanzania since 1999 and is active in fuel supply, LPG, lubricants, storage and distribution.
The acquisition remains subject to regulatory approvals. The value of the transaction has not been disclosed.
Sources
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