Puma Energy to acquire BP Malawi

Puma Energy, a Swiss-based energy is to acquire BP Malawi following the company’s interest to buy off the remaining 50 percent shares of the country’s largest fuel provider which are owned by Press Corporation Limited (PCL).


Puma Energy, a subsidiary of a Dutch-based Trafigura Limited oil group, already bought off the other 50 percent shares from BP Malawi.


“With the investment of about USSD296 million in five units of oil major BP’s downstream businesss in Southern Africa, we are very hopeful that PCL will nod to our offer taking into consideration of our good track of investment in other African countries.

“There will be no loss of jobs, all we will do is to upgrade the operations and important in providing reliable fuel supply,” said Mark Eadie Corporate Affairs manager of Trafigula.
PCL group chief executive officer Matthews Chikaonda confirmed with the local media that discussions are underway with the giant global brand and said by the first quarter of 2011, they will make a decision.

“Over the next four to six weeks, we have to finish onsite due diligence at Puma headquarters and at one of their major operations,” said Chikaonda.

Puma Energy, which owns and operates over 12.5 million barrels of refined product storage and supplies in excess of 14 million barrels of products every years, has more than 30 operating subsidiaries located in over 20 countries worldwide and employs around 1000 people.

In Africa, it has projects in Ghana, Ivory Cost, Congo, Angola, Mozambique and the Democratic Republic of Congo (DRC).