Conex Oil and Gas Holdings Limited (Conex) signed an agreement with Total to acquire Total Liberia and Total Sierra Leone. Total Liberia and Total Sierra Leone are leaders in the importing and marketing of petroleum products throughout their respective countries via the industrial & wholesale channel under the trademarks pertaining to the Total group.
This transaction, a press release of March 25, 2020 said, represents a unique opportunity for Conex to become a market leader in the fuel marketing business in West Africa with specific emphasis on the Mano River Union counties, due to Total Liberia and Total Sierra Leone leading positions as vendors of fuel in the aviation industry.
“Several international companies participated in this competitive bidding process which was conducted in compliance with Total `Group’s rules and standards, and I am pleased that Conex, a Liberian entity, emerged successful in the acquisition. We are excited about the expansion of Conex throughout these countries because this will create jobs and promote development in the areas into which we expand,” the release signed by T. Nelson Williams, II, Chief Operating Officer/SVP said.
During his inaugural message on January 22, 2018, President Dr. George Manneh Weah called on all Liberians to not be spectators in their own country but to take bold steps to create businesses and be a part of our country’s economic and developmental growth.
“We at Conex, heard this message loud and clear. That is why we are here today. Our hope is that this achievement will encourage and motivate other Liberians to move in and begin the job of developing our private sector. It is time for local actors to actively participate in their economies.” said Cherif Abdallah, CEO and Chairman of Conex Oil and Gas Holdings Ltd. and Conex Petroleum Group.
About Conex Oil and Gas Holdings, Ltd.
Conex is a 100% Liberian owned company that provides capital resources, support and highly skilled and talented management teams in the investees’ companies. Conex is the holding company for a group of companies operating, primarily in West Africa and headquartered in Liberia with representative offices located in Sierra Leone, Guinea, Ghana, Nigeria and the UAE as well as Switzerland.
CONEX has become a powerful force in the oil and gas sector. As its ambition is to develop its activities, the acquisition of the two entities is in line with the expansion strategy of the group.
CONEX extends special thanks and appreciation to its respective advisors: Africa Finance Corporation, Lagos, Nigeria; Sefton Fross, Lagos, Nigeria; Platform Capitol, Port Louis, Mauritius; Montserrado Oil Infrastructure, Road Town-Tortola, British Virgin Island and GT Bank, Monrovia, Liberia.