Partner Article

D1 pours cold water on takeover speculation

NORTH East biofuels empire D1 Oils, which has been moving closer to a takeover deal in recent weeks, this morning said that no parties were now considering an offer at this time and so the company is no longer in an offer period.

The firm , which was launched by North East entrepreneur Karl Watkin and at one time was headquartered in Middlesbrough before its subsequent regional exit, has been the subject of takeover speculation for at least six months.

Earlier this week the sale of a 27.5% blocking stake held by Brian Myerson’s investment fund Principle Capital was thought to be the catalyst for a deal to go through.

It was believed that the movement was connected to a potential bidder for D1. However that has failed to materialise and its future remains uncertain.

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