Sarah Thompson, Anthony Macdonald, Joyce Moullakis
Brokers Deutsche Bank and Bank of America Merrill Lynch will introduce Viva Energy to fund managers next week, as preparations step up for the petrol station owner’s new real estate investment trust.
The brokers contacted clients on Wednesday morning, saying Viva was intending to push ahead with the float in the second half and was seeking time with potential investors next week.
The non-deal roadshow was expected to make the usual stops in Sydney and Melbourne, as well as offshore.
Fundies were told Viva’s REIT would own an initial portfolio of 425 freehold service station sites, which are leased to Viva.
The listed trust is expected to be worth about $2 billion.
Dutch-based commodities trader Vitol and Abu Dhabi Investment Council created Viva Energy in 2014, after buying Shell Australia’s refining and marketing business. Street Talk first flagged the planned property spin-off last year.
Extracted in full from Australian Financial Review.