Vallares, the investment vehicle backed former BP CEO Tony Hayward, has raised £1.35 billion in a share sale, Bloomberg reports. The energy investment vehicle sold 133 million shares at £10 each after initially targeting £1 billion.
The proceeds will be used for acquiring or establishing a major company, business or asset that has operations in the resources sector, adds RTT News. Vallares is backed by investors Nathaniel Rothschild and Tom Daniel and former Goldman Sachs banker Julian Metherell.
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