MOSCOW (MRC) -- Total says that the EUR950 million (USD1.1 billion) public tender offer it launched for battery major, Saft (Bagnolet, France) in May resulted in Total acquiring 90.14% of the capital and voting rights of Saft Groupe, based on the total number of shares outstanding as of 12 July 2016, said Total.
According to the general regulator of the Autorite des marches financiers (AMF), the public tender offer will be reopened from 19 July through 2 August to allow shareholders who have not yet disposed of their shares to do so under the same terms.
"Total is pleased with the success of this tender offer », said Patrick Pouyanne, Chairman and CEO of Total. « Our acquisition of more than 90% of the shares shows the confidence Saft shareholders have in our industrial project enabling Saft to accelerate its development".
On his part, Ghislain Lescuyer, CEO of Saft Groupe, said "Saft is delighted to join with Total, a major player in the energy sector, which will enable us to accelerate our development."
According to the General Regulation of the AMF, the public tender offer initiated by Total will be re-opened from July 19 to August 2, 2016, in order to allow shareholders who have not yet disposed of their shares to do so under the same terms. Total confirms its intention to prioritize investment over dividend payout and will proceed with a delisting of the stock if a level of 95 percent of the capital and voting rights of Saft Groupe is reached.
As MRC informed earlier, the National Petrochemical Company (NPC) of Iran and France-based Total have signed an memorandum of understanding (MoU) to build a petrochemical complex in Iran.
Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.
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