Australia's Viva Energy rises after review board approves OTR Group acquisition

Waypoint REIT

21/03/2024 04:38

** Shares of Viva Energy  VEA.AX  rise as much as 3% to
A$3.645, post their biggest intraday pct gain since Feb 28
    ** Stock at its highest level since March 4
    ** The energy firm says it has received approval by the
Foreign Investment Review Board (FIRB) to proceed with its
acquisition of OTR Group
    ** Co had proposed to buy OTR Group from Adelaide-based
Peregrine Corp for A$1.15 bln ($761.53 mln) in December
    ** Viva stock up ~1.5% YTD, as of last close

    ($1 = 1.5101 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))