Authorization

Vivo Energy Agrees To Be Bought By Vitol Group In $2.3 Bln Deal; Shares Up

(RTTNews) - Shares of Vivo Energy Plc (VVO.L) were gaining around 20 percent after the African retailer of shell and engen-branded fuels and lubricants Thursday announced its agreement to be acquired by Vitol Group for $1.85 or 139 pence in cash for each Vivo Share.

The deal values Vivo on a fully diluted basis at approximately $2.3 billion or 1.8 billion pounds.

Vitol Investment Partnership II Limited or VIP II, an entity advised by employees of the Vitol Group, reached agreement on the terms of a recommended cash offer to acquire all remaining shares of Vivo not owned by existing Vitol Shareholders.

The offer is expected to be effected by means of a scheme of arrangement.

The per share price comprises $1.79 in cash for each Vivo Share, which will be payable to all Vivo Shareholders other than the existing Vitol Shareholders, plus $0.04 per Vivo Share in the form of a 2021 Final Dividend, and $0.02 per Vivo Share in the form of a 2022 Special Dividend.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Декабрь 2021    »
ПнВтСрЧтПтСбВс
 12345
6789101112
13141516171819
20212223242526
2728293031