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Past Investments


1. Calulo Sells Shares in Kepu Group

Calulo disposes of its shipping and trading business to Commodore Trading and Shipping, and takes full control and ownership of Calulo Fuels and Calulo Marine, previously named Kepu Fuels and Kepu Petroleum respectively.


1. Calulo Buys Back Investec Bank Shares

Following the buy-back of shares from Invstec Bank Limited, Calulo Investments is now fully owned by its founder, management and employees.


1. Calulo Aquires Stakes in Renewable Energy Sector

Calulo Renewable Energy acquires an 11% stake in renewable
energy developer Mulilo. Calulo also acquires a 25% shareholding
in a 75MW Solar PV Plant in Prieska, along with partners Total, Mulilo,
Futuregrowth Asset Management and the IDC.

2. TOSACO Sells Its Stake in TOTAL SA

TOSACO concludes the sale of its 25% stake in TOTAL SA, thereby concluding a 13 year investment by Calulo in Total South Africa’s operations.


1. Calulo Acquires a Stake in Transit Solutions

Calulo Investments acquires a 10% stake in Transit Solutions, a subsidiary of Gilbarco AFS Investment, which along with its 20% stake in Gilbarco AFS, ensures it holds a full 20% interest in Transit Solutions.

2. Calulo Becomes Part of Consortium That Takes Stake in Grindrod Ltd

Calulo, Brimstone and Solethu Investments subscribe for 8.16% shares of Grindrod Limited for R1.6 billion.


1. Majority Share acquisition by Calulo into FFS Refiners (Pty) Ltd.

Calulo Investments, through Calulo Petrochemicals, buys additional shares
in FFS Refiners, giving them a majority share of 52%.


1. Sturrock and Calulo Buy into Röhlig-Grindrod

Sturrock Shipping shareholders, led by Calulo Newco, acquire a 15% stake in Röhlig-Grindrod and merge their clearing and forwarding operations.

2. Grindrod Holdings SA buys 50% into Sturrock Grindrod Maritime

Grindrod Holdings SA buys a 50% stake in Sturrock Grindrod Maritime. The remaining shares are held by Calulo, who holds 30%, and the Sturrock family who hold 20%.


1. Fuelogic Sold into Grindrod South Africa

Grindrod South Africa acquires 100% of the issued share capital of Fuelogic from Arrowbulk Carriers, Ukhamba Holdings Limited, Calulo Petrochemicals and Graham Searle. Fuelogic is a bulk liquid fuel transporter operating in Southern Africa.


1. Calulo Enters into JV with Skytanking

Calulo Investments and Skytanking Holding GmbH enter into a joint venture called Skytanking Calulo (Pty) Limited, which is the operator of the aviation fuel hydrant and storage system, as well as the into-plane fueling service, currently at King Shaka International Airport.

2. Calulo Buys 15% Shares in Kukhanya Energy Services

Calulo Investments buys 15% shares in Kukhanya Energy Services (KES), a Total and EDF Energy affliate in South Africa, which installs and maintains  solar home systems in rural areas that cannot be connected to the power grid.


1. Calulo Buys 30% Stake in AFS

Calulo Investments, through Calulo Petrochemicals, acquires a 30% stake
in AFS, which provides products and services that automate and manage all
aspects of the procurement, delivery, storage, sale and consumption of fuel.

2. Calulo Enters into a JV with Oiltanking

Calulo Petrochemicals enters into a joint venture with Oiltanking, named Oiltanking Grindrod Calulo (OTGC). Oiltanking is the leading partner with a 46% shareholding, followed by Grindrod with 30,5%, Calulo holding a 20,5% stake, and the remaining 3% shareholding being held by Adopt-a-School. The business has specialised terminal facilities in Durban and Cape Town and a  specialised trucking fleet servicing the customers in the molasses and vegetable oil industry.


3. Investec Bank Invests in Calulo Petrochemicals

Investec Bank, through its Investment Private Equity division buys a 30% stake in Calulo Petrochemicals.


1. Calulo Buys a 25% Stake in FFS Refiners

Calulo Investments, through its subsidiary Calulo Petrochemicals, buys a 25% stake in FFS Refiners, an industrial liquid heating fuels supplier

2. Calulo Services Buys into JFM Sturrock Holdings

Calulo Services buys a 60% stake into JFM Sturrock Holdings, a clearing and forwarding ships agency

3. Unicorn Calulo (Unical) Shipping is Formed

Calulo Investments enters into a JV with Grindrod Limited, known as Unicorn Calulo (Unical) Shipping, which provides efficient and cost-effective tanker shipping services.


1. Calulo Property Fund Gets Listed

Calulo Property Fund, a variable loan stock company which owns investments in properties gets listed on the JSE limited under the Financial Real Estate category. Its property portfolio comprises of light industrial property, office and retail property. The fund was subsequently renamed Monyetla Property Fund.

2. Calulo Foundation is Established

The Calulo Foundation is established as a vehicle through which the Calulo Group and its associate partners drive their Corporate Social Responsibility initiatives, and where they can implement effective community development programs that transform the lives of the less fortunate, by providing efficient service, resource and relevant platforms.


1. Total BEE Deal Concluded

Total SA becomes the latest company to comply with the empowerment charter for the liquid fuels industry, which was devised by oil industry stakeholders in 2000. The charter specifies that historically disadvantaged people/groups must own 25% of the industry within 10 years.

2. Total South Africa Consortium (TOSACO) Formed

Newly-formed black empowerment company Total South Africa Consortium (TOSACO) acquires a 25% stake in fuels group Total SA. In terms of the new deal, the TOSACO empowerment consortium acquires a full-voting 25% stake in Total SA, a deal that allows the stake to convert into ordinary shares over 10 years.

3. TOSACO Commercial Services (TCS) buys Total Renaissance

Total Renaissance is bought by TOSACO Commercial Services.


1. Total Renaissance Established

Calulo Investments and Total SA enter into an empowerment deal through the formation of a joint venture sales and marketing company with ambitious business development objectives. The new joint venture, Total Renaissance, is owned 51% by Calulo Investments, and 49% by Total SA.

2. Feulogic Established

A bulk liquid fuel transporter operating in Southern Africa is established.