As per reports, Chevron Corporation (CVX) has announced that it is acquiring Renewable Energy Group Inc. (REGI) for about $3.15 billion. The transaction marks a significant boost for the oil giant’s investment in renewable fuels, demand for which is expected to grow in the near future as businesses look for ways to move away from oil and gas to reduce carbon emissions. Renewable Energy, based in Ames, Iowa, is reportedly North America’s largest producer of advanced biofuels and is led by Chief Executive Officer Cynthia “CJ” Warner. It turns feedstock into fuel at more than a dozen locations in the Germany and U.S.
Chevron is set to pay $61.50 per share in an all-cash transaction for Renewable Energy, as per sources.
Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.
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