Vitol Divests Latin American Sustainable Transport Platform VGMobility

Energy and commodities trader Vitol has announced the divestment of VGMobility, an electric mobility enterprise established by the group in 2020 to deliver green transport infrastructure across the Americas. According to a statement issued by Vitol, the business has grown to become the largest platform of sustainable transportation assets operating in Latin America.

The divested platform currently manages more than 2,600 electric buses under contract across five major projects in Colombia and Chile. As reported by the company, VGMobility's operations transport over 250 million passengers annually, offering regional municipal authorities a turnkey solution to modernize public transit fleets and lower urban air pollution.

Commenting on the divestment, Andrew de Pass, Head of Energy Transition at Vitol Inc., highlighted the execution performance of VGMobility's management team across multiple operational locations. De Pass outlined Vitol's overarching approach to energy transition investments, noting that the firm creates, scales, and operates asset platforms before exiting them once they reach commercial maturity and are de-risked.

Vitol confirmed that financial institution BTG Pactual served as its lead advisor on the transaction. Legal counsel for the divestment was provided to Vitol by international law firms Latham & Watkins LLP and Cuatrecasas Legal SLP.