VivoPower Receives $200M Non-Binding Proposal From Energi For 51% Tembo Stake

VivoPower International PLC has received a revised non-binding proposal from Energi Holdings Limited to acquire a 51% controlling stake in its subsidiary, Tembo e-LV B.V., valuing the company at $200 million. This offer marks an increase from a previous valuation of $180 million for an 80% stake and reflects Energi's support for Tembo's planned business combination with Cactus Acquisition Corp. 1 Limited, with intentions to roll its stake into the merged entity. VivoPower plans to retain a significant shareholding in Tembo post-transaction and is evaluating the proposal with consideration of its strategic capital management goals, including debt reduction and potential shareholder returns. The transaction remains subject to due diligence, legal agreements, and board and shareholder approvals, with no guarantee of completion. VivoPower's focus on optimizing capital structure is underscored by its existing debt and liquidity challenges, and proceeds from the sale are expected to prioritize debt retirement.