Shell exits most of African retail via Vivo Energy (2011)
Shell sold its fuel-retail businesses across about 19 African countries to trader Vitol and investor Helios, which formed Vivo Energy to run the Shell-branded stations. South Africa was one of the few markets Shell kept.
Vivo Energy took over hundreds of stations and grew into one of Africa's largest fuel retailers.
Shell shifted from owning African retail to licensing its brand, a model it has used to step back from downstream markets since.
The ADNOC sale closes the loop: South Africa was the holdout Shell kept in 2011, and it is now leaving that too.
