BPOPF acquires 20% of Puma Energy Botswana
Puma Energy, the global mid and downstream energy company, and Botswana Public Officers’ Pension Fund (BPOPF), have announced the sale of ordinary shares in Puma Energy Botswana to the BPOPF, introducing more Batswana into the ownership structure of Puma Energy Botswana.
The share sale equates to 20% of Puma Energy Botswana’s total ordinary shares in circulation. The BPOPF thus becomes part of the Puma Energy shareholding structure, which will contribute to securing the long-term development and stability of the Botswana economy and Puma Energy’s Botswana business.
Christophe Zyde, Chief Operating Officer of Puma Energy in Africa said: “The introduction of the BPOPF reinforces our commitment to Botswana. Puma Energy will remain focused on investing in Botswana and will continue to grow the business to create value for all stakeholders.”
Mahube Mpugwa, General Manager of Puma Energy Botswana commented: “The introduction of the BPOPF to our shareholding deepens an important strategic relationship between Puma Energy Botswana and Batswana, allowing us to achieve our local shareholder ownership objectives. Further to this agreement Puma Energy Botswana also supports the government’s initiative for developing the youth and reducing youth unemployment. Our comprehensive training and skills development programme is a meaningful foundation for their continued professional evolution.”
“For the BPOPF, an acquisition of 20% of Puma Energy Botswana’s equity is a worthwhile initiative that sees us achieve our objective of investing locally for the benefit of our members. This investment further represents our support for international companies that offer Batswana sustainable opportunities as well as help diversify the local economy. We look forward to a mutually beneficial partnership,” the Chief Executive Officer of BPOPF, Boitumelo Molefe commented on the transaction.
The BPOPF Board Chairman, Carter Morupisi said the BPOPF is entrusted to safe guard the investment of many stakeholders from all walks of life. “We believe that our stakeholders will view and support Puma Energy Botswana with great pride in the knowledge that they now benefit from such a significant business. Puma Energy Botswana has proved time and again that it is an important partner to Government in initiatives such as development, diversification and employment creation for the youth. It is worth noting that through this partnership, Batswana will have a sense of ownership of a young vibrant retail brand,” he said.
Puma Energy Botswana and BPOPF acknowledged the professional advice of Rand Merchant Bank throughout the negotiations up to the signing of the deal.