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17 December 2024

Waste Plastic Upcycling strengthens partnership with Vitol to drive international expansion

As part of these conditional agreements, Vitol will acquire approximately 66.84% of the shares in Waste Plastic Upcycling. Upon closing, Vitol will further increase its ownership to approximately 90.36%. The shares will be acquired at a price of NOK 15 per share, corresponding to a total transaction value of approximately NOK 530 million. The shares are listed on the Euronext Growth Market in Oslo.

Waste Plastic Upcycling is a Danish company focused on converting non-recyclable plastic waste into oil products that can be used to produce new plastic or as an additive to fuels. In this way, Waste Plastic Upcycling contributes to solving the challenges of plastic waste.

Vitol is a global market leader in the energy and commodities industry with a presence across the spectrum; from oil through to power, renewables and carbon credits.

The transaction is expected to close at the latest during January 2025, subject to customary conditions precedent.

Moalem Weitemeyer is acting as legal counsel to the selling shareholders of Waste Plastic Upcycling in connection with the divestment.

Poul Guo (Quach)/郭保罗

Partner

+45 30 37 96 23

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Morten Krogsgaard

Partner

+45 30 37 96 91

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Tobias Riis Steinø

Partner

+45 30 37 96 97

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Martin Søndergaard Olesen

Senior Associate

+45 30 37 96 99

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Kadir Kurt

Associate

+45 30 37 96 27

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Andjela Parezanovic

Associate

+45 30 37 96 41

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Fie Seibæk

Associate

+45 30 37 96 74

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Oskar Bernhoft

Associate

+45 30 37 96 26

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