Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/vertex-energy-to-acquire-used-oil-re-refining-asse.shtmlVertex Energy to acquire used oil re-refining assets from Omega Holdings Company
Vertex Energy, Inc. announced the entry into an asset purchase agreement with Omega Holdings Company,
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Vertex Energy, Inc. announced the entry into an asset purchase agreement with Omega Holdings Company, LLC and certain of its wholly-owned subsidiaries ('Omega'). Pursuant to the agreement, Vertex agreed to acquire certain of Omega's assets related to the re-refining and processing of used motor oil and the distribution of fuel oils and base lubricating oils.
The purchase price for the acquisition is $30,750,000 in cash, 2,000,000 million shares of Vertex's common stock (currently valued at approximately $7.5 million), and the assumption of approximately $9,700,000 in capital leases and other liabilities. One million shares of stock will be held in escrow to satisfy post-closing obligations, liabilities and indemnities.
