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Clifford Chance advises Viva Energy on AU$1.15 billion acquisition of OTR Group

27 April 2023

Clifford Chance advises Viva Energy on AU$1.15 billion acquisition of OTR Group

Leading international law firm Clifford Chance has advised Australian fuel supplier Viva Energy on its AU$1.15 billion (US$770 million) acquisition of convenience retailer OTR (On The Run) Group from Peregrine Corporation. The acquisition will support Viva Energy's vision to be Australia's leading convenience retailer and its target to establish more than 1,000 stores. The transaction is subject to customary regulatory approvals.

Partner David Clee who led on the transaction said, "We are delighted to advise Viva Energy on its acquisition of OTR Group, which will transform Australia's convenience and fuel retail sector. This transaction highlights the firm's expertise in advising on landmark M&A transactions in Australia. We wish Viva Energy and OTR Group every success in their next phase of growth."

David was supported by partners Jacob Kahwaji and Elizabeth Hill, counsel Marcus Berghouse, senior associates Michael Fitzpatrick and Artem Paoutov and associates Melanie Ray, Max Beavis and Lisa Jiang. Antitrust support was provided by counsel Mark Grime, senior associate Angel Fu and associate Sam Frouhar.

Viva Energy is one of Australia's leading energy companies and supplies approximately a quarter of the country's liquid fuel requirements. OTR Group is a leading convenience retailer in Australia, which owns and controls a network of 204 leasehold stores operating under the OTR brand, comprising fuel and convenience stores, stand-alone stores and quick service restaurants.

Clifford Chance has a track record of advising on some of Australia's most significant M&A transactions including Partners Group on the sale of CWP Renewables, the largest renewable energy in Australia to date, Xpansiv on Blackstone's US$400 million investment in its global carbon and environmental commodities exchange platform and an investor consortium on the acquisition and recapitalisation of Ansett Aviation Training.