Total provide results of the public tender offer on Direct Energie
Published by Laura Dean,
Deputy Editor
Hydrocarbon Engineering,
Following completion on July 6, 2018 of the acquisition of a 73.04% stake in the share capital of Direct Energie at €42 per share, Total welcomes the results of the public tender offer published by the Autorité des marchés financiers (AMF), showing that Total S.A. has acquired, at the same price, 9 354 390 shares under the centralised procedure managed by Euronext Paris and 1 011 888 shares on the market.
Total will hold 44 417 802 shares of Direct Energie representing 44 820 386 voting rights, i.e. 95.37% of the share capital and at least 95.33% of the voting rights of this company.
Once the settlement of the shares tendered into the offer has been completed, Total intends to request the implementation of the squeeze-out procedure in accordance with the terms of its public tender offer of July 26, 2018 at a price of €42 per share (dividend attached).
Total is pleased to be in a position to fully benefit from the new perimeter comprised of Direct Energie and the other businesses of its Gas, Renewables & Power (GRP) branch with a view to accelerating its strategy of integration along the gas-electricity value chain in Europe and development of low carbon energies, in line with its ambition to become the responsible energy Major.
Read the article online at: https://www.hydrocarbonengineering.com/special-reports/21092018/total-provide-results-of-the-public-tender-offer-on-direct-energie/
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