Oryx Energies SA, a Geneva-based Africa-focused trader, was sold for approximately $1 billion in a management buyout. Oryx Chief Executive Officer Moussa Diao and Trading Manager Herve Bouvet acquired the majority of shares from founder Jean Claude Gandur. The transaction, first reported by Africa Intelligence, marks a significant shift in ownership for the company that has expanded across sub-Saharan Africa over more than three decades.
While Oryx has traditionally relied on trading companies to secure fuel supplies for the continent, the deal concludes a chapter in the firm's history. The source requested anonymity as the information remains non-public. Oryx did not immediately respond to requests for comment regarding the transition.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing