Vivo Energy PLC - London-based fuels and lubricants seller under Shell and Engen brands in 23 African countries - Says a court has sanctioned the takeover of the group by its largest shareholder Vitol Group. The deal will become effective on July 25 after deliverance of the court order to the Registrar of Companies for England & Wales.
Vivo shares will be cancelled on London Stock Exchange on Tuesday and on Johannesburg Stock Exchange next Friday.
On July 8, Vivo declared a special dividend of USD0.02 following the acquisition. Vitol had offered USD1.85 per share for Vivo, in a deal valued at USD2.3 billion. It already held a 36% stake in Vivo.
Current stock price in London: 151.60 pence
12-month change: up 45%
Current stock price in Johannesburg: ZAR31.00
12-month change: up 47%
By Tom Budszus; tombudszus@alliancenews.com
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