Savosolar Plc: Meriaura Ltd Has Obtained Consents From Its Financiers For Execution Of The Share Exchange

Savosolar Plc published on 29 August 2022 that it has signed a conditional share exchange agreement with VG-Shipping Ltd to acquire marine logistics company Meriaura Ltd and the business of VG EcoFuel Ltd, producer and marketer of biofuels. Savosolar’s current shareholders will own 30% and VG-Shipping 70% of the new corporate entity.

Execution of the transaction has required written consents to the change in Meriaura’s ownership from Meriaura’s financiers (Nordea, Finnvera, Varma). Meriaura has today obtained the last needed consent from its financiers.

Savosolar Plc will today summon Extraordinary General Meeting, in the agenda of which there are the General Meeting resolutions required for execution of the share exchange.