Côte d'Ivoire: Amethis exits retail distributor of oil and gas products
Private equity firm Amethis announced its exit from Pétro Ivoire, a retail distributor of oil and gas products in Côte d’Ivoire, through the sale of its minority stake to Caisse Nationale de Prévoyance Sociale (CNPS), a large Ivoirian public institution.
“Amethis has accompanied Pétro Ivoire through two of its vehicles which exited in 2018 and today. The success of Pétro Ivoire reinforces Amethis’ investment strategy to build African regional champions. We are pleased to have contributed to support the expansion of the group, the work of the general manager of Pétro Ivoire Sébastien Kadio-Morokro during all these years of fruitful collaboration and to sell our stake to CNPS which invests in a strategic sector for Côte d’Ivoire,” said Jean-Thomas Lopez, partner at Amethis.
Through this partnership and thanks to significant investments, Pétro Ivoire became a market leader and tripled its production of LPG gas.
“We thank Amethis for their continued support over the nine years of our partnership which has seen considerable positive change for Pétro Ivoire. Pétro Ivoire with this new solid long-term partner CNPS, intends to consolidate its achievements in its core business with the continued expansion of its network of service stations and investments in the entire supply chain of butane gas to households and businesses. Above all, we intend to move to another stage of our development with the diversification and regionalisation of our activities. Our ambition is to be a real national and regional champion,” said Sébastien Kadio-Morokro, general manager of Pétro Ivoire.
“Through this investment, CNPS wishes to position itself in a key sector essential to the national economy with a view to strengthening the capacity of a local reference player to initiate its expansion and meet the challenges and opportunities in the medium and long term,” said Charles Kouassi, general manager of CNPS.
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