Australia's Viva Energy hits record high on nod for OTR Group buy

Waypoint REIT

14/12/2023 24:07

** Shares of Viva Energy  VEA.AX  advance as much as 5.8% to
A$3.31, hitting a record high 
    ** Shares rise for third straight day 
    ** Australia's competition regulator says it will not oppose
co's proposed acquisiton of OTR Group from Adelaide-based
Peregrine Corp for A$1.15 bln ($767.05 mln) 
    ** Approval comes after court enforceable undertaking by
Viva Energy to divest 25 Coles Express sites in South Australia.
    ** Shares set to see best day since April 5 - if current
trend holds 
    ** Stock has risen ~14.7% this year as of last close


($1 = 1.4993 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))