VivoPower International PLC announced on May 8, 2025, that Energi Holdings Limited has successfully completed the first phase of due diligence for the previously disclosed non-binding proportional takeover proposal, valued at an enterprise value of US$180 million. This phase, which included commercial, financial, and operational reviews, was completed on schedule.
Energi Holdings, an Abu Dhabi-headquartered global energy solutions company with US$1 billion in annual revenues, is progressing with the acquisition. The successful completion of this initial phase indicates positive momentum towards a potential binding agreement.
Both parties have agreed to an accelerated second phase of due diligence, which will involve a more in-depth review of regulatory, legal, and technical matters. This phase is expected to conclude by June 2, 2025, as both companies continue to work constructively towards finalizing the transaction.
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