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Axens announces bid for petrochem group

December 02/2016

MOSCOW (MRC) -- Axens announces the launch of its takeover bid for the shares of Heurtey Petrochem group, said Hydrocarbonprocessing.

Following its decision of conformity concerning Axens takeover bid on Nov. 29, the French capital markets authority has published the detailed bid calendar on its website.

The offer will remain open until Jan. 5, 2017.

The offer price of EUR25 represents a 44.1% premium on the volume -- weighted average share price over the last 3 months to Oct. 10 -- the last trading day before the announcement of the transaction.

Heurtey Petrochem shareholders wishing to tender their shares under the terms of the Offer will need to submit a tender order to their financial intermediary managing their account no later than on the closing date of the Offer. These tender orders may be revoked at any time up to the Offer closing date.

As MRC informed earlier, Hengli Petrochemical (Dalian) Co. Ltd. (HPDC) has let a contract to Axens SA, Rueil-Malmaison, France, to provide a suite of processing units and technologies for a grassroots crude-to-paraxylene complex under construction at its integrated refining and petrochemical project in Hengli Petrochemical Industrial Park (HPIP) on Changxing Island in Dalian, Liaoning Province, China.

Axens is an international provider of advanced technologies, catalysts, adsorbents and services. The main scope of Axens' business is focused on the conversion of oil, coal, natural gas and biomass to clean fuels as well as production and purification of major petrochemical intermediates. Axens global offer is based on: highly trained human resources, modern production facilities and extensive commercial feedback from plants using our processes and catalysts all around the world.
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Crude oil, Axens.
Category:General News
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