Civitas Solutions (CIVI) Announces $75M Share Buyback from Vitol
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Civitas Resources, Inc. Announces Share Repurchase from Vitol
May 2, 2024 4:18 PM EDTDENVER--(BUSINESS WIRE)-- Civitas Resources, Inc. (NYSE: CIVI) (Civitas or the Company), today announced the execution of a definitive agreement to repurchase approximately 1.04 million shares of its common stock from Vitol at a price of $72.00 per share, totaling $75 million. Civitas acquisition of certain oil and gas assets in the Permian Basin from Vencer Energy, LLC, a Vitol investment, closed on January 2, 2024, in exchange for approximately 7.2 million shares of Civitas stock along with $1.55 billion in cash ($1 billion paid at closing and a remaining $550 million payable on January 3, 2025). Along with other open market sales since... More
