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Axens progresses its acquisition of Heurtey

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Hydrocarbon Engineering,

Following the recent acquisition of Heurtey Petrochem (shares at a unitary price per share of 30 euros), Axens has crossed the 95% threshold of Heurtey Petrochem share ownership, and now holds a total of 4 715 562 shares of the company, representing 95.9% of the share capital and 95.7% of the voting rights.

Therefore, as indicated in the takeover bid initiated in December 2016, Axens confirms that it will be launching a takeover bid followed by a squeeze out process for the remaining shares in the coming weeks.

The takeover bid and squeeze out process will require the compliance approval of the French Stock Exchange Regulator - AMF. In conformance with the article 261-1 of the general AMF regulations, the Board of Directors of Heurtey will appoint an independent financial expert who will draw up a fairness opinion related to the financial conditions of the takeover bid followed by the squeeze out process.

Delisting the company from the Stock Exchange market will allow to pursue and complete the integration process of the Heurtey Petrochem sales and operations within Axens and will enforce the leverage of technical and commercial synergies and value creation of the Axens Group. 

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