Petronas unit holds talks with Shell operator in Africa

The deal would be worth as much as 3.5 billion rand (US$256mil), or about 20% of Engen

JOHANNESBURG: Petroliam Nasional Bhd’s South African unit Engen is in talks with Vivo Energy Holding BV to combine some of their African fuel-retail assets, according to two people familiar with the matter.

The deal would be worth as much as 3.5 billion rand (US$256mil), or about 20% of Engen’s equity value, said the people, who asked not to be identified as the negotiations are ongoing.