Vitol’s Post

Vitol Completes Acquisition of Moratti Family’s Stake in Saras S.p.A. 🚀💼 Summary: On June 18, 2024, Vitol B.V., through its special purpose vehicle Varas S.p.A., successfully finalized the acquisition of the Moratti family’s 35.019% shareholding in Saras S.p.A. This transaction, initially announced on February 11, 2024, increases Vitol’s total ownership in Saras to 45.48%. The completion of this deal marks a significant milestone for both companies and sets the stage for future growth and collaboration. Massimo Moratti expressed a blend of emotions, reflecting on the long-standing relationship his family has had with Saras, while also expressing confidence that Vitol’s involvement will secure a prosperous future for the company, its employees, and the local community. Russell Hardy, CEO of Vitol, echoed this sentiment, emphasizing Vitol’s commitment to investing in Saras and working closely with the local management team. Following the completion of the transaction, Varas will initiate a mandatory tender offer for the remaining share capital of Saras not already owned by Varas and Vitol, as per the regulations outlined in the Italian Financial Act. Board Resignations and Appointments: In the wake of the acquisition, four members of the Moratti family—Angelo Moratti, Angelomario Moratti, Gabriele Moratti, and Giovanni Moratti—resigned from their positions on Saras’s Board of Directors, effective immediately. These resignations led to the appointment of new directors: Thomas Baker, Clive Christison, Dat Duong, and Ciprea Scolari, who will bring fresh perspectives and expertise to the company. Massimo Moratti also relinquished his operating and management powers but will continue to serve as Chairman until the tender offer is settled. Leadership Changes: The Board of Directors approved the appointment of Franco Balsamo as the new CEO of Saras. Additionally, the composition of the Board Committees was revised: • Thomas Baker, Clive Christison, Dat Duong, and Ciprea Scolari were appointed to the Steering and Strategy Committee. • Dat Duong was appointed to the Risk and Sustainability Committee. The curricula vitae of the new directors will be available on the Saras website. Insight: This acquisition is a strategic move by Vitol to bolster its position in the energy sector. The transition is expected to infuse Saras with new energy and investment, ensuring long-term stability and growth. The prompt restructuring of the Board of Directors and leadership team underscores a proactive approach to corporate governance and strategic planning. With Vitol’s extensive expertise and resources, Saras is well-positioned to navigate the evolving energy landscape and achieve its growth objectives. Hashtags: #BusinessAcquisition #EnergySector #CorporateGovernance #LeadershipChange #Vitol #Saras #BoardOfDirectors #StrategicGrowth #Investment #EnergyIndustry #CorporateStrategy

Pulsa X Norco: Pulsa brings value in a world of increased costs: https://bit.ly/49LWaBK The cost of doing business is always rising. That's why it's important to operate as efficiently as possible. Hear Norco, Inc. President, Brent Seward, talk about the importance of partnering with Pulsa in gas distribution. #gasdistribution #pulsa #worksmarter #PulsaROI #weloveourcustomers

Isot kaivosyhtiöt hankkivat nyt pienempiäkin litiumhankkeita, kertoo BMI: "Albemarle Corporation has offered a 20% higher bid for Australia’s Liontown Resources Limited, in a deal that highlights the desire of #lithium majors to acquire additional resources to meet future #electricvehicle growth." #kriittisetmateriaalit #litium #albemarle #australia https://lnkd.in/eWd3cSgQ

Discover what makes Ozeol.com unique! 🌟 Swipe through our carousel to learn 5 key facts about us. 📊 Want to know more about Ozeol and our mission? Visit our website www.ozeol.com 🌐 or contact us !  #BusinessInsights #LearnMore #GlobalReach

Atlantic Tin completes the Scoping Study for the Integrated Achmmach-SAMINE Project. The 2024 Scoping Study incorporates the benefits of combining Achmmach with the nearby El Hammam processing facility owned by SAMINE, which is to be acquired by Atlantic Tin as announced on 30th May 2024. The Scoping Study demonstrates the integrated project to be a low-cost, long-life producer of clean and high-grade tin concentrate on the doorstep of Europe. Tin is a critical mineral needed for the world’s transition to clean energy. The 2024 Scoping Study validates the potential of Achmmach with a Base Case post-tax Net Present Value ("NPV") of US$307M and a post-tax Internal Rate of Return ("IRR") of 45%. #Tin #Morocco

Aterian plc - CLN Conversion and Issue of new shares. Aterian Plc (LSE: ATN), the critical metal-focused exploration and development company, announces that it has received notices to convert £500,000 or the full amount of outstanding convertible loan notes, issued and announced on 3 May 2024. Additionally, following requests from three suppliers seeking an increased shareholding in Aterian, the Company has agreed to convert £42,197 of creditor balances. The Company will therefore convert an aggregate of £542,197 at 70 pence per share in exchange for the issue of 774,566 new ordinary shares of 10p each in the Company ("Ordinary Shares"). Source: Vox Markets #RNS #ATN https://lnkd.in/gnCqwMr9

Have you ever heard of the Dvalin field off the Norwegian coast which commenced production of Natural Gas in 2020? Me neither, until I saw that an unexpected disruption late yesterday was responsible for a 5% increase in wholesale gas costs! History has shown how quickly energy wholesale prices, and therefore UK businesses unfixed gas and electricity rates, can spike so why not explore taking advantage of the near two year low in the fixed rates we can offer at Yu Energy? https://lnkd.in/eEGBzWXa

The Bonnie Claire #Lithium Project was ranked 2nd out of all High Profile Lithium Projects globally in the recent RFC Ambrian Lithium Projects Review, our enterprise value (EV) is not reflecting the value #NVLH holds here. Read the full article here: https://bit.ly/472sO0o

Dr Zwanani Titus Mathe, #SANEDI CEO sees WtE as the solution begging to be implemented. Here he sets out the case for WtE, with the benefits it offers. Click the link below to read more . #crownpublications #SANEDI #DMRE #wastetoenergy #DMRE

Indian CAM self-Reliance Initiative India is taking steps to reduce reliance on Cathode materials and achieve self-sufficiency through a public-private partnership. The ARCI, working with Altmin, has developed Lithium Ferrous Phosphate (LFP), a crucial element for Cathode Active Materials (CAMs) used in advanced Lithium-Ion cells. The 10MW pilot plant in Hyderabad is ready to produce 100kg of LFP per day. Altmin aims to achieve an $80 million turnover within a year. ARCI and Altmin collaborate as technology partners, with international licensing exclusive to Altmin. Major battery players have shown interest, and Altmin has partnered with YLB, Bolivia for a stable supply of battery-grade lithium carbonate. Altmin plans to scale up to 3GW capacity by 2025 and expand to other locations. #Innovation #Sustainability #Technology #Energy #Partnerships #India #growth #EV