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Vitol agrees to acquire approximately 66.84% of the total share capital in WPU – Waste Plastic Upcycling A/S.
Vitol has entered into conditional agreements with the existing shareholders of WPU – Waste Plastic Upcycling A/S, whereby Vitol, upon completion of the transaction, will increase its shareholding to a majority stake of approximately 90.36%. Vitol will acquire the shares at a price of NOK 15 per share, resulting in a total transaction value of approximately NOK 528 million.
Vitol is a leading global energy and commodities company specializing in the trading and distribution of a wide range of energy products using its logistics expertise and infrastructure network.
WPU – Waste Plastic Upcycling A/S is a Danish founded green cleantech company that upcycles waste plastic into products that can be used in the production of sustainable plastic oil, with shares listed on Euronext Growth Oslo.
Gorrissen Federspiel assists Vitol in connection with the transaction. The transaction team is led by Rikke Schiøtt Petersen and Marcus S. Vallentin Rosenstock with strong support from Thomas Hammer Skou, Mathias Ringby Andersen and Emilie Niklassen Ebbesen (corporate) and Mikkel Fritsch, Vincent Weil and Sixten Franke (finance) and many others.