MCB Group is pleased to announce that it acted as exclusive Financial Adviser and financing partner to Beta Oil Terminal Ltd (“Beta Oil”), a subsidiary of Bhunjun Group, on its acquisition of Engen Petroleum (Mauritius) Limited. The transaction, which has received final regulatory approval, marks a significant milestone in the Mauritian energy sector.
MCB Capital Markets, the investment banking arm of MCB Group, acted as exclusive Financial Adviser on the transaction while MCB Bank, the Group’s corporate banking arm, provided debt financing for part of the acquisition. Drawing upon its strong balance sheet and long-standing relationship with the Bhunjun Group, MCB delivered a tailored and integrated solution to support the successful completion of the deal.
This transaction underscores MCB Group’s ability to provide end-to-end advisory and financing solutions, reinforcing its position as a trusted partner for strategic and transformative transactions in Mauritius and the region.
This milestone represents a landmark development in the Mauritian downstream petroleum sector, making Bhunjun Group the first Mauritian-owned group to acquire and operate a nationwide petroleum distribution and service station network.
Following completion, Beta Oil owns 100% of the shares of Engen Mauritius, which comprises a network of 37 service stations and the associated storage, distribution and operational infrastructure. The acquisition marks Bhunjun Group’s strategic entry into the retail distribution of petroleum products in Mauritius, building on its established expertise in petroleum logistics and supply-chain management.
The transaction ensures the continuity of operations, with the existing operational management team, employees, commercial arrangements, dealer agreements and supply contracts all remaining in place.
Veekram Bhunjun, Chief Executive Officer of Bhunjun Group, commented: “This acquisition represents a major strategic milestone for Bhunjun Group and for Beta Oil, making us the first Mauritian group to own and operate a petroleum distribution network locally. The transaction allows us to enter the retail fuel distribution segment with a strong operational platform and continuity for all stakeholders. We would like to thank MCB Capital Markets for its disciplined execution and strategic advice throughout a highly competitive acquisition process, as well as MCB Bank for its support through the provision of debt financing.”
Rony Lam, Chief Executive Officer of MCB Capital Markets, commented: “Advising Beta Oil on this landmark transaction reinforces MCB Capital Markets’ position as a trusted adviser to clients that undertake transformational acquisitions. Our role on this transaction reflects our ability to deliver high-quality M&A advice, combining strong execution discipline with a clear understanding of competitive sale dynamics.”