12:11 PM EST, 02/26/2025 (MT Newswires) -- Vermilion Energy ( VET ) said Wednesday it closed its previously announced acquisition of Westbrick Energy.

The company announced the transaction in December, saying it would acquire Westbrick Energy for $1.08 billion in cash.

According to Vermilion, Westbrick shareholders had the option to receive up to 1.7 million Vermilion common shares, not exceeding $25 million in value, as part of the total consideration. Certain shareholders elected to receive 1.1 million shares, valued at $14.2 million.

The company said the remainder of the consideration will be paid in cash using existing funds, a new $450 million term loan, and an undrawn $1.35 billion revolving credit facility.

Vermilion said it will issue an updated 2025 guidance to reflect the acquisition with the release of its Q4 results on March 5.

Price: 8.54, Change: -0.04, Percent Change: -0.41