Z Energy acquisition gets green light

Company News

Z Energy Limited (ASX:ZEL) has received clearance from the New Zealand commerce commission to acquire 100 percent of the shares of Chevron New Zealand.
 
Z applied to the Commerce Commission regarding the acquisition of Chevron New Zealand on 30 June 2015 for a purchase price of $785 million.
 
The transaction was cleared on the basis that, subject to Z’s undertaking to divest certain assets, it would not be likely to substantially lessen competition in any market.
 
The acquisition will be funded from cash and debt. The transaction is expected to be settled on 1 June.
 
Z Energy recorded a net profit of $60.92 at 30 September 2015.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.