Vermilion Energy Closes Acquisition of Westbrick Energy

MT Newswires Live

Feb 27, 2025

Vermilion Energy (VET) said Wednesday it closed its previously announced acquisition of Westbrick Energy.

The company announced the transaction in December, saying it would acquire Westbrick Energy for $1.08 billion in cash.

According to Vermilion, Westbrick shareholders had the option to receive up to 1.7 million Vermilion common shares, not exceeding $25 million in value, as part of the total consideration. Certain shareholders elected to receive 1.1 million shares, valued at $14.2 million.

The company said the remainder of the consideration will be paid in cash using existing funds, a new $450 million term loan, and an undrawn $1.35 billion revolving credit facility.

Vermilion said it will issue an updated 2025 guidance to reflect the acquisition with the release of its Q4 results on March 5.

Price: 8.54, Change: -0.04, Percent Change: -0.41

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