Chevron Acquires Renewable Energy Group for $3.15 Billion
February 28, 2022
Chevron Corporation agreed to acquire Renewable Energy Group, Inc. (REG) in an all-cash transaction valued at about $3.15 billion, bringing REG's renewable fuels production, feedstock capabilities and pre‑treatment facilities into Chevron's Downstream and Renewables operations. The deal accelerates Chevron's plan to grow renewable fuels capacity and expands its low‑carbon fuels offering; REG shareholders approved the transaction and REG's leadership (CJ Warner) joined Chevron's board following closing.
- Buyers
- Chevron Corporation
- Targets
- Renewable Energy Group, Inc.
- Sellers
- Renewable Energy Group stockholders
- Industry
- Energy
- Location
- Iowa, United States
- Transaction Type
- Buyout
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