Oryx Energies has signed an agreement to sell its downstream oil business in Tanzania to Amsons Group, the Geneva-based company said on 16 October, in a deal reported to be worth more than US$230m.
Why Amsons Group is buying Oryx Energies' Tanzanian downstream oil business
Oryx said the sale lets it focus capital on energy infrastructure across Africa and on its trading activities. Amsons said the acquisition expands its footprint in energy and logistics and would strengthen domestic fuel security.
“This transaction is also an important step in the evolution of Oryx Energies' strategy, as we seek to focus our capital and efforts on developing energy infrastructure across Africa and strengthening our trading activities.”
Deal terms and financing
The business includes retail service stations, storage terminals and distribution infrastructure. Neither party disclosed the price; Africa Business Communities put it at over US$230m.
Regulatory approvals and timing
Completion is subject to the necessary regulatory approvals and other customary conditions. Oryx will keep operating in Tanzania until then.
Market context
Amsons Group is a diversified Tanzanian business group with interests in energy, cement and logistics, and made a takeover offer for Kenya's Bamburi Cement in 2024.
