Vitol  announces the divestment of one of its emobility companies, VGMobility. Created by Vitol in 2020 with a mission to deliver green mobility solutions across the Americas, today, VGMobility is the largest platform of sustainable transportation assets in Latin America. Across five key projects in Colombia and Chile, VGMobility has over 2,600 electric buses under contract, transports over 250 million passengers a year and offers municipalities the opportunity of reducing air pollution and upgrading local transport through an efficient turnkey solution.

Andrew de Pass, Head of Energy Transition, Vitol Inc. said: “VGMobility is the leading provider of emobility in Latin America.  Its excellent and highly experienced team have delivered projects successfully in multiple locations. It has been a pleasure to work with them. Consistent with our energy transition investments strategy, we create, build to scale and operate platforms, divesting once they are at scale and de-risked. We wish VGMobility success in the future.”

BTG Pactual acted as Vitol’s lead advisor on the transaction while Latham & Watkins LLP and Cuatrecasas Legal SLP served as Vitol’s legal counsel.