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Tuesday, 03/01/2022 10:22:15 AM

Tuesday, March 01, 2022 10:22:15 AM

Post# of 907
CVX acquires REGI at 40% premium to Friday’s close:

The acquisition combines REG’s growing renewable fuels production and leading feedstock capabilities with Chevron’s large manufacturing, distribution and commercial marketing position.

… The transaction is expected to accelerate progress toward Chevron’s goal to grow renewable fuels production capacity to 100,000 barrels per day by 2030 and brings additional feedstock supplies and pre-treatment facilities. After closing of the acquisition, Chevron’s renewable fuels business, Renewable Fuels - REG, will be headquartered in Ames, Iowa. In addition, CJ Warner is expected to join Chevron’s Board of Directors.

The nominal deal value is $2.75B.

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