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BUZZ-Australia's Viva Energy rises on ACCC nod for acquiring rest of LOC Global

Reuters
Dec 12, 2024

** Shares of Viva Energy Group rise as much as 2.7% to A$2.69, their biggest intraday pct jump since late-Nov

** ACCC to not oppose co's acquisition of remaining 50% stake in LOC Global from New World Corp $(NWC.AU)$ after accepting a court-enforceable undertaking which requires divestments

** Undertaking requires Viva Energy to divest 14 LOC retail fuel and convenience sites across South Australia, Victoria, Queensland and the Northern Territory to a subsidiary of NWC

** LOC is a joint venture currently owned by Viva Energy and NWC

** Viva Energy and LOC overlap in the supply of retail fuel across metropolitan and regional areas

** Stock has fallen 24.9% this year, as of last close

(Reporting by Namrata Verma in Bengaluru)

((namrata.verma@thomsonreuters.com))

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