triggered the Dutch giant on Wednesday to declare it had faith in Viva management, and that it had no plans for a further sell-down. It insisted the sale was not based on inside information.Following the sale to two undisclosed buyers, Vitol Investment Partnership remains the largest shareholder in Viva Energy with approximately a 30 per cent stake, the Dutch firm disclosed in market filings.
“Vitol Investment Partnership has not previously sold any Viva Energy shares since its IPO more than 5 years ago in July 2018 and has no intention to further reduce its shareholding in the short to medium term.”Vitol and Viva’s history goes back to 2014, when Vitol acquired Royal Dutch Shell’s downstream operations for $2.9 billion and renamed the asset Viva Energy.
Viva Energy’s share price has dropped 8.25 per cent since Monday. Its shares were trading 1.5 per cent lower at $2.89 on Wednesday.
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