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Update: Axens takeover bid for Heurtey Petrochem

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Hydrocarbon Engineering,

Following the reopening of the tender offer between 16 – 27 January 2017, Axens has revealed that it now holds, in concert with IFP Investissements, a total of 4 354 286 shares and 4 428 786 voting rights of Heurtey Petrochem.

This represents 88.6% of the share capital and 88.3% of the voting rights.

The settlement date of the offer will take place on 6 February 2017.

In a statement, Axens revealed that it is pleased with the result, which permits building a new group together with the Heurtey and Prosernat teams.

Following the offer, IFP Investments has committed to transferring 1 769 785 shares that it holds in Heurtey Petrochem to Axens. This represents 36% of the share capital and 36.8% of the voting rights of the company.

IFP Investments has also confirmed its intention to transfer to Axens its 50% holding of Eurecat so as to consolidate Axens’ position in the field of services associated to the sale of catalysts (global offer of new and regenerated catalysts). This transfer, together with the grouping of Axens and Heurtey Petrochem, will help to establish the new reference technological industrial group, which will specialise in clean fuels and eco-efficient technologies, present in the refining, petrochemical, natural gas, biofuels and renewable chemical intermediates sectors.

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