Viridor Announces Recommended Offer for Quantafuel
03.06.23
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Simpson Thacher is representing Viridor (a portfolio company of KKR) in connection with their recommended offer to acquire all of the outstanding shares in Quantafuel ASA (“Quantafuel”), which was announced on February 28, 2023, at NOK 6.38 per share (as may be adjusted in accordance with the terms of the offer). The offer values Quantafuel’s share capital at approximately NOK 1.1 billion (USD 101 million). KIRKBI and BASF, Quantafuel’s two largest shareholders, have irrevocably undertaken to accept the offer. The transaction is expected to be completed by way of a Norwegian recommended voluntary tender offer process, subject to the receipt of certain regulatory approvals and divestment by Quantafuel of its interest in Geminor.
Quantafuel was established in December 2014. Since February 2020, it has been admitted to trading on the Euronext Growth exchange in Oslo and is a technology-based recycling company converting waste plastics back into low-carbon synthetic oil products.
The Simpson Thacher team includes Amy Mahon, Carlo Pia, Vishaal Patel and Harry Smouha (Corporate); Claire Williams and Charley Xu (Credit); Étienne Renaudeau and Henry Llewellyn (Antitrust); and Nick Shaw and Charles English (US Securities).