F.A.Q | OVH ENERGY

OVH Energy represents a group of downstream petroleum businesses owned by a dynamic combination of proven industry leaders. Previously wholly owned downstream subsidiaries of Oando Plc, the OVH Energy downstream companies respectively hold licences to conduct petroleum products and affiliated retail businesses under the Oando brand.

OVH Energy comprises the following downstream petroleum companies, which were previously wholly owned by Oando Plc: Oando Supply and Trading Limited, Oando Marketing Plc and its subsidiaries in Ghana and Togo, Apapa SPM Limited, Oando Trippmart and Ebony Oil and Gas Limited in Ghana (together, “OVH Energy” or the “OVH Energy downstream companies”).

OVH Energy is proud to continue offering its customers high quality products and services – including supply reliability, technical expertise and unmatched customer services nationwide and across Africa.

Helios Investment Partners and Vitol S.A., jointly investing through a joint venture vehicle known as HV Investments II BV (referred to as “HVI”), Oando Plc. (referred to as “Oando”) and a Nigerian Helios affiliate.

Oando Plc. is the largest integrated energy solutions group in Sub-Saharan Africa. It has a primary and secondary listing on the Nigerian Stock Exchange and the Johannesburg Stock Exchange respectively. The company has a market capitalization of over $1Billion and in 2013 achieved a revenue of $2.9billion. With over 23 years’ experience in the Nigerian market, Oando emerged the leading indigenous energy company in Nigeria with fully integrated operations in the upstream, midstream and downstream sectors of the oil and gas industry. It is led by a highly skilled and experienced management team and workforce with a successful track record delivering results.

The Vitol Group, a global energy and commodities trading company, is the ninth largest corporation in the world (by revenue) and the world’s largest independent trader of energy products. Its sprawling empire generated $270bn in sales in the year 2015. Founded almost 50 year ago, Vitol is acclaimed for its market leadership, financial strengths, risk management expertise, and stable long-term ownership model. Its strengths include physical trading, logistics and distribution businesses; this is complemented by refining, shipping, storage and terminals, exploration and production, power generation, mining, marketing and retailing businesses. As a commodity trader that pulls the levers of the global economy, Vitol has the capability to boost the energy portfolio in Nigeria and Africa at large

Helios Investments Partners is an Africa-focused private investment firm. Established in 2014, Helios has grown to become one of the largest investment firm focusing on Africa and is among the few independent Pan-African private equity investment firms to be found and managed by Africans. It is led by co-founding partners Tope Lawani and Babatunde Soyeye. Helios combination of deep knowledge of the African market, extensive investment experience, the capability to add value to portfolio company operations, and strong network of reliable and trusted local and industrial financial contacts positions it well to identify and execute on attractive investment opportunities in Africa.

HVI has injected fresh capital into Oando Plc. to acquire 49% voting rights and 60% economic rights in OVH some of the downstream businesses of Oando Plc. 51% of the voting rights will be held by Oando Plc. and a Nigerian Helios Affiliate in the ratio of 49%: 2% respectively.

The initial announcement of this new partnership was made public in July 2015 after Oando Plc. signed a Sale and Purchase Agreement with its new strategic partners, Vitol and Helios.

The three partners have identified and understand the value each of their organizations can return to their stakeholders through long-term partnership in OVH Energy.

Oando’s over 23 years’ local expertise in the downstream sector, combined with Helios and Vitol’s international, financial and technical proficiency sets the new company apart for business excellence and will result in a unique offering within Africa’s downstream sector.

This unique partnership will position the new downstream companies to meet their corporate and business objectives of improved customer service experience and enviable return on investments to shareholders, whilst shoring up equity for deeper opportunities. It will also accelerate expansion and investment for the new OVH Energy within the downstream petroleum sector, thus assuring business continuity.

Structurally, in addition to the new shareholding and economic interest split between the partners, there will be changes to the board of directors of each of the downstream companies under the OVH Energy umbrella, to admit the representatives of the new joint venture partners, Vitol and Helios.

For greater productivity and business optimisation, there would be some organizational changes within the various businesses, as may be approved by their respective boards of directors or the Chief Executive Officer. Operationally, the petroleum products retail business will continue under the Oando brand. Vitol and Helios would provide support to the various businesses, where necessary.

The new investors, who already have interests in similar businesses across the world, will infuse their wealth of experience to add value to the business, and with an expected increase in investment and market share, the downstream operations will experience further expansion in the near to midterm.

Under the new ownership structure, OVH Energy will continue to leverage the existing Oando brand name at all its retail outlets by virtue of a brand license granted by Oando Plc. This however does not preclude modifications to the look and feel of the retail outlets and other branding and collateral merchandising items in the long run.

The corporate names of some of the downstream companies in Nigeria, Ghana and Togo would be changed in order to reflect their new shareholding composition. For those companies, “OVH ENERGY” (being the initials of the partners - Oando, Vitol and Helios) would be included as prefixes in their corporate names.

NO, this will not affect how you interact with Oando. Communication via all existing channels in its various entities will remain the same.

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