Stockholders Approve Renewable Energy Group, Inc.’s Definitive Agreement to be Acquired by Chevron Corporation
Renewable Energy Group, Inc. (“REG”) (Nasdaq: REGI), a leading bio-based diesel producer in North America, announced that its stockholders voted to adopt the previously announced definitive agreement (the “Merger Agreement”), in which REG will be acquired by Chevron Corporation (“Chevron”) (NYSE: CVX) (the “Merger”), one of the world’s leading energy companies. At the May 17 annual meeting, REG stockholders adopted the Merger Agreement with more than 80% of the shares outstanding and entitled to vote voting in favor of the Merger. REG expects to file with the Securities and Exchange Commission a Current Report on Form 8-K disclosing the final voting results.
“We are pleased with the outcome of today’s shareholder vote, which is a key step to closing the transaction. After the transaction is complete, we believe the organization will continue delivering the sustainable fuels that our customers and the world need,” said CJ Warner, REG CEO & President.
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The Merger is expected to close mid-year 2022, subject to customary closing conditions, including the receipt of regulatory approvals.
About Renewable Energy Group, Inc.
REG is leading the energy and transportation industries’ transition to sustainability by converting renewable resources into high-quality, sustainable fuels. REG is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. REG utilizes a global integrated procurement, distribution, and logistics network to operate 11 biorefineries in the U.S. and Europe. In 2021, REG produced 480 million gallons of cleaner fuel delivering 4.1 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
About Chevron Corporation
Chevron is one of the world’s leading integrated energy companies. Chevron believes affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance its business and the industry. Chevron is focused on lowering the carbon intensity in its operations and seeking to grow lower carbon businesses along with is traditional business lines. More information about Chevron is available at www.chevron.com.