VivoPower confirms continuation of proposed $180M takeover process with Energi

VivoPower (VVPR) International PLC confirmed with Energi Holdings Limited that both parties will continue to progress with the next steps of the takeover process, being the exclusive due diligence period. An unsolicited all-cash offer to acquire all non-affiliated free float shares of VivoPower was made in March by Energi, an Abu Dhabi-headquartered energy solutions company established in 2014. Energi has $1B of revenues and offices in the Middle East, Africa, South Asia, Europe, and Southeast Asia. VivoPower management has also conducted an initial review of the proposed US tariffs announced by President Donald Trump and does not expect these tariffs to have any adverse effect on the Tembo electric vehicle business. Tembo’s strategy has and will continue to focus on larger addressable markets outside of the United States for its electric vehicle solutions encompassing off-road, ruggedised on-road and public utility vehicles. Tembo does not currently have customers, partners, or suppliers in the United States.