ZEL Z Energy Ltd

Z Energy Ltd. (ZEL.NZ. ZNZ.AU) is poised to acquire Chevron Corp.'s (CVX) New Zealand filling station network for 800 million New Zealand dollars (US$567 million), according to a report Monday in the Australian Financial Review.

The deal will involve Z Energy launching a NZ$150 million capital raising, the newspaper reported, without citing sources. A spokesperson for Chevron wasn't immediately available to comment on the report.

Z Energy's shares were placed in a trading halt Monday.

Newspaper website: http://www.afr.com

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