Dutch commodities trader Vitol is selling $714 million worth of shares in Australian fuel retailer Viva Energy in a block trade, Reuters reports.
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Vitol declined to comment on the sale of 248.6 million shares, which is 16.1% of Viva Energy’s total shares.
The share sale marks the the largest block trade in Australia since $1.1 billion worth of Woodside Energy shares were exchanged in June 2022.
Following the share sale, Vitol will remain Viva Energy’s largest shareholder with a 30% stake in the business.
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The sale marks Vitol’s first since Viva Energy’s IPO five years ago. Viva Energy is a leading energy company that supplies about a quarter of Australia’s fuel requirements.
