VivoPower (VVPR) International announced that Energi Holdings has advised the Company of the successful completion of the first phase of due diligence in connection with the previously disclosed non-binding proportional takeover at an enterprise value of $180 million. Energi, headquartered in Abu Dhabi, is a global energy solutions company with $1 billion in annual revenues and operations spanning the Middle East, Africa, South Asia, Europe, and Southeast Asia. The first phase of due diligence, which involved commercial, financial, and operational reviews, was completed successfully on schedule.Consequently, both parties have agreed to an accelerated second phase of due diligence, which will include a more in-depth review of regulatory, legal, and technical matters. This phase is expected to conclude by 2 June 2025, with both parties continuing to work constructively toward the goal of a binding agreement.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VVPR:
- VivoPower’s Tembo secures order from The Safari Collection
- VivoPower Updates on Energi’s Takeover Proposal
- VivoPower provides clarification on proportional takeover offer
- VivoPower’s Tembo Secures $85 Million Deal with Saudi Arabia’s Green Watt
- VivoPower’s Tembo signs distribution agreement worth estimated $85M over 5 years