Amsons Group has agreed to acquire Geneva-based Oryx Energies’ downstream oil business in Tanzania in a transaction valued at more than US$230 million.
The acquisition will transfer Oryx Energies’ downstream operations in Tanzania to Amsons Group, including retail service stations, storage terminals and distribution infrastructure.
The transaction is part of Oryx Energies’ ongoing review of its downstream assets in Africa. Completion remains subject to regulatory approvals and other customary conditions.
Until the transaction is completed, Oryx Energies will continue operating in Tanzania as usual.
Amsons Group Managing Director Edha Nahdi said the acquisition would expand the group’s presence in the energy and logistics sectors.
“We are delighted to finalise this acquisition, which marks a transformative step in our strategic vision to expand Amsons Group’s footprint in energy and logistics,” Nahdi said.
“Integrating Oryx’s extensive distribution network and storage capabilities allows us to strengthen domestic fuel security and anchor Tanzania as a vital regional logistics hub for East and Central Africa.” He added.
Oryx Energies Chief Executive Officer Moussa Diao said the transaction marked a significant milestone for the company’s operations in Tanzania.
“We are pleased to have reached this agreement with Amsons Group, a Tanzanian business with strong roots in the country and a clear ambition for growth,” Diao said.
“Tanzania has been an important part of Oryx Energies’ history, and we are proud of the business we have built and the relationships we have developed over the years.”
Diao said the company believed Amsons Group was well positioned to take the business forward while building on its existing operations and creating opportunities for employees, customers and partners.
He added that the transaction was part of Oryx Energies’ evolving strategy to focus its capital and efforts on developing energy infrastructure across Africa and strengthening its trading activities.
The acquisition is expected to increase Amsons Group’s fuel storage capacity from 300,000 metric tonnes to 800,000 metric tonnes. Its retail network is also expected to expand to approximately 300 service stations across several countries.
The deal includes Oryx’s bulk storage terminals, retail stations and equity interests in strategic fuel hub partnerships, including storage operations at the Tanzania International Petroleum Reserve (TIPER) in Dar es Salaam.
The acquisition adds to Amsons Group’s recent expansion in the region. In Tanzania, the group acquired Mbeya Cement, while in Kenya it has launched buyout offers involving Bamburi Cement and East African Portland Cement Company.
The group has also announced a 1,000-megawatt solar investment in Zambia.
The latest transaction would expand Amsons Group’s operations across fuel storage, distribution and retail, subject to the completion of the acquisition.
