The family of Italian billionaire Massimo Moratti has agreed to sell a controlling stake in the oil refiner Saras SpA to the commodities trading giant Vitol Group, in a deal valuing the company at approximately €1.7 billion ($1.9 billion). Vitol, the world's largest independent oil trader, intends to delist Saras following the acquisition. This transaction, Vitol's second multi-billion euro energy deal announced for Merger Monday, will see Vitol launching a takeover bid, offering €1.75 per share to the Moratti family before proceeding with a full bid. In response to the buyout offers, Italy's government has announced its intention to secure commitments from Vitol on job preservation, investments, and the continuity of oil supplies.
Asked TaylorMade CEO David Abeles about footwear for Tiger’s new brand: “We fully anticipate having footwear in market by early next year, if not sooner. And we'll start with golf footwear. You may see Tiger wearing it sometime this spring or summer.”
#Italy to seek jobs, oil supplies commitments on Vitol-Saras deal, sources say #oott https://t.co/XDdpfxFoxX
Italy to seek jobs, oil supplies commitments on Vitol-Saras deal, sources say https://t.co/kPFqn5BhP2 https://t.co/XuEyeBDAxt
⚠️ ITALY TO SEEK JOBS, OIL SUPPLIES COMMITMENTS ON VITOL-SARAS DEAL, SOURCES SAY (Reuters) Italy's government will seek commitments from Vitol on jobs, investments and continuity of supplies when vetting the global commodity trader's plan to take over oil refiner Saras, two… https://t.co/eCf6ugbwNx
Driving-shoe maker Tod’s always looked like a private company, @AndreaFelsted writes. Now it might soon be. https://t.co/5tcEOb45tC
⚠️ MILAN BOURSE BIDS FAREWELL TO TOD'S, SARAS AFTER BUYOUT OFFERS (Reuters) Shares in Italian luxury shoemaker Tod's jumped on Monday and those of oil refiner Saras slumped after the two received buyout offers over the weekend, with both preparing to join peers that have left… https://t.co/SRZaOboG0i
#Italy: Vitol Buys Key Stake in Refiner Saras From Billionaire Moratti Vitol to launch takeover bid valuing refiner €1.7 billion Vitol to pay €1.75/share for Saras to Morattis before full bid #oott https://t.co/0B84Usv2SZ
#Italy: Vitol to buy controlling stake in Saras from Morattis, delist it #oott https://t.co/lQH2xj3MqF
2nd multi-billion euro energy deal for Merger Monday Vitol is now launching a takeover bid valuing Saras SpA at EUR1.7 billion or $1.9 billion Vitol is the largest independent oil trader in the world
Vitol to buy controlling stake in Saras from Morattis, delist it https://t.co/fgbAs1tpQq https://t.co/0t1CMqZ3yT
The family of Italian billionaire Massimo Moratti agreed to sell a controlling stake in refiner Saras SpA to the commodities trading giant Vitol Group, in a deal which valued the company at about €1.7 billion ($1.9 billion). w/ @Al_Brambilla https://t.co/lJTha0zE51
The family of Italian billionaire Massimo Moratti agreed to sell a controlling stake in refiner Saras to the commodities trading giant Vitol Group https://t.co/CxWab2696x