Viva Energy Group Limited completed the acquisition of OTR Group from Peregrine Corporation for AUD 1.21 billion.
Approximately 6,500 OTR team members and support center staff will join the Viva Energy Group on their current terms and conditions. Viva Energy will retain the OTR head office in Adelaide which, along with the existing Melbourne-based team, will service the Group?s Convenience and Mobility business over time. Transaction is subject to subject to customary FIRB and ACCC approvals, and is expected to close in the second half of 2023. As of November 9, 2023, the transaction is expected to close in first half of 2024. As of March 21, 2024, Foreign Investment Review Board (FIRB) approved the deal. Jacob Kahwaji, Elizabeth Hill and Marcus Berghouse of Clifford Chance, Sydney acted as legal advisors for Viva Energy. Gilbert and Tobin acted as legal advisor to Peregrine Corporation.
Viva Energy Group Limited (ASX:VEA) completed the acquisition of OTR Group from Peregrine Corporation for AUD 1.21 billion on March 28, 2024.