DivestmentJul 2, 2026, 09:02 AM
Vivakor Amends LOI for CPE Gathering Sale, Targets July 31 Closing
AI Summary
Vivakor, Inc. announced an amendment to its previously disclosed Letter of Intent with Olenox Industries, Inc. regarding the proposed sale of its CPE Gathering MidCon, LLC business. The amendment establishes a new target closing date of July 31, 2026, to allow for the completion of customary closing conditions, including due diligence and third-party approvals. The transaction, valued at approximately $36 million, is expected to enhance shareholder value and optimize Vivakor's asset portfolio.
Key Highlights
- Vivakor amended its Letter of Intent with Olenox Industries for the sale of CPE Gathering MidCon, LLC.
- The new target closing date for the divestment is July 31, 2026.
- The transaction value for CPE Gathering MidCon is approximately $36 million.
- CPE Gathering's expected annual EBITDA is approximately $4.56 million.
- The parties are continuing due diligence, third-party approvals, and definitive documentation.
- The divestment aligns with Vivakor's strategy to optimize its asset portfolio and enhance shareholder value.
Price Impact
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