Partner Article

Investors circle D1 Oils

BIOFUELS company D1 Oils has confirmed that two parties are closing in on making offers for the company.

The firm, which was founded by North East entrepreneur Karl Watkin and at one time was headquartered in Middlesbrough, said offer discussions had progressed to the extent that two parties have indicated that they may, subject to due diligence, make offers for the company.

The offers would be made at a substantial premium to the current share price and in one case wholly in cash while the other would be in new listed shares of that potential suitor.

The firm said its board is seeking to bring these discussions to a conclusion within two months.

This was posted in Bdaily's Members' News section by Ruth Mitchell .