VivoPower says Energi completes first phase of due diligence in takeover process

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.