MCB Capital Markets advises on the disposal of Ceejay Gas to Vivo Energy

MCB Capital Markets, the investment banking arm of MCB Group, has acted as Transaction Advisor to the shareholders of Ceejay Gas Ltd (“Ceejay Gas”) on the sale of their shares to Vivo Energy. Ceejay Gas is the leading and fully integrated importer, bottler and distributor of liquefied petroleum gas (“LPG”) in Mayotte. 

For the past 25 years, Somagaz has grown on the back of Mayotte’s expanding LPG market with a clear vision and focus on Health, Safety, Security, Environment and Quality (“HSSEQ”) to become the clear market leader. The company operates a 1,000 metric tonne storage and bottling facility in Longoni and distributes LPG in bulk to industrial customers and in cylinders to a network of approximately 140 retail outlets.

For Vivo Energy, the acquisition is part of its development and growth strategy in the region, where it already has a strong operational presence, namely in Mauritius, Madagascar, Reunion and across East Africa. Upon completion of the transaction, Vivo Energy took full control of the operations through three subsidiaries, namely Somagaz SAS (“Somagaz”), Sigma SAS (procurement, storage and bottling) and SN Somagaz SAS (distribution) in Mayotte.

Anil Currimjee, Chairman of Currimjee Jeewanjee and Company Limited and ex-Director of Ceejay Gas, commented, “We are delighted to have reached an agreement with Vivo Energy, which is committed to growing the business and providing continuity to our employees. I would like to thank the team for their contribution in building a leading company in Mayotte and our advisors, MCB Capital Markets, for providing sound advice to us and driving the transaction through to completion.”

Rony Lam, Chief Executive Officer of MCB Capital Markets, commented, “We are delighted to have concluded this transaction, which underlines our team’s expertise in executing cross-border M&A sell-side transactions. I would like to thank our client for trusting MCB Financial Advisers and wish Vivo Energy well in building upon the solid foundations of Ceejay Gas.”

Burges Salmon LLP provided legal advice to the shareholders of Ceejay Gas on the transaction.