SYDNEY, AUSTRALIA: Vitol Investment Partnership, the largest shareholder of Viva Energy Group Limited, has sold 248.6 million ordinary shares in the Australian energy company, representing 16% of its issued share capital. The sale was done through a block trade agreement with two financial institutions, who underwrote the transaction.
The sale increases the free float of Viva Energy to 70%, while Vitol Investment Partnership retains a 30% interest in the company. Vitol Investment Partnership has not sold any Viva Energy shares since its initial public offering (IPO) in July 2018 and has no intention to further reduce its shareholding in the short to medium term.
Vitol Investment Partnership acquired Viva Energy in 2014 and considers it to be one of the best downstream companies in the world, managed by an exceptional team led by CEO Scott Wyatt. Vitol, the world’s largest independent energy commodity trading company and an investor in Vitol Investment Partnership, remains a steadfast partner of Viva Energy with long-term agreements in place. Vitol continues to support Viva Energy through reliable, competitive, high quality fuel supply with no change to the fuel supply agreements between Viva Energy and Vitol.
Vitol Investment Partnership confirms that it does not possess any information that is not generally available that a reasonable person would expect to have a material effect on the price or value of Viva Energy’s shares.