Vivo Energy PLC - sells fuels and lubricants under Shell and Engen brands in 23 African countries - Says the takeover of the group by its largest shareholder Vitol Group has cleared all regulatory and antitrust hurdles. The deal will become effective on July 25.
Vivo declares a special dividend of USD0.02 following the acquisition. Vitol, through a newly formed indirect subsidiary called BidCo, has offered USD1.85 per share for Vivo, in a deal valued at USD2.3 billion. It has a 36% stake in Vivo.
By Artwell Dlamini; artwelldlamini@alliancenews.com
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