The Italian government has given the go-ahead to Vitol’s $1.8bn takeover of refiner and charterer Saras.
The trader said no objection was raised by the Prime Minister’s Office, although the government is retaining the “golden power” to block the deal at any point should circumstances change. The golden power is used in cases of national interest.
“The Italian Prime Minister’s Office issued a decree on the exercise of special powers containing prescriptions that are no obstacle to the completion of the transaction,” Vitol said.
