Wayne Fueling Systems Uk Ltd agreed to acquire Vianet Fuel Solutions Ltd (VFS) from Vianet Group plc (AIM:VNET) for £3.5 million in cash on December 7, 2015. Vianet will receive a cash consideration of £3.5 million on a debt free cash free basis, subject to a potential adjustment for the working capital of VFS at completion. Intercompany balances will be written off prior to completion. Vianet Fuel Solutions generated revenue of £4.2 million in the 12 months to March 31, 2015. The transaction is expected to close on or around January 31, 2016. Stephen Keys and Camilla Hume of Cenkos Securities plc acted as financial advisor and Quincy Allan and James Burman of Abchurch Communications acted as public relations advisor to Vianet Group. Peter Barton of Gordons acted as legal advisor to Vianet Group. Chris Viner of Norton Rose acted as the legal advisor for Wayne Fueling.

Wayne Fueling Systems UK Limited acquired Vianet Fuel Solutions Ltd Vianet Group plc (AIM:VNET) on January 31, 2016.