Total completes acquiring 73 pc stake in Direct Energie
Waste Management Expo 2020 MAR 12&13 BIEC, Bengaluru, India

Total completes acquiring 73 pc stake in Direct Energie

4:41 AM, 7th July 2018
Total logo

PARIS, FRANCE: Total SA has completed the acquisition of 73.04 percent share capital of Direct Energie, for €42 euros per share, representing approximately €1.4 billion.

Ledouble, appointed by Direct Energie’s board of directors as independent expert, confirmed that the price offered represents fair financial value for Direct Energie’s minority shareholders including for the squeeze out procedure that Total intends to request if the required conditions are met.

“The board of directors unanimously recommends to Direct Energie’s shareholders to tender their shares. This operation is indeed extremely positive for Direct Energie, its teams and clients,” said Xavier Caitucoli, chairman and CEO of Direct Energie.

“This operation allows us to accelerate our integration downstream along the full gas and power value chain and to reach critical mass in the French and Belgium markets where we are growing fast”, declared Patrick Pouyanne, chairman and CEO of Total.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Right lubricants for injection moulding machines: To boost plastic manufacturing processes

By Shankar Karnik The Plastic industry in India has been one of the major contributors of growth and development for various sectors such as automoti ...

Read more
Solving new age textile challenges

By Harshad Naik Innovation is critical to the growth and sustainability of Huntsman’s business and as emerging technologies continue to redefin ...

Read more
AkzoNobel breaks ground on €90 million organic peroxide site in China

AMSTERDAM, NETHERLANDS: AkzoNobel Specialty Chemicals has officially broken ground for construction of a state-of-the-art organic peroxide production ...

Read more
BASF's light stabilizers make translucent safety helmets safer, durable

MELBOURNE, AUSTRALIA: Martogg Group of Companies, Australia’s largest privately-owned polymer distribution, resin compounding and plastics recyc ...

Read more
Veramaris' algal oil facility construction on schedule in Nebraska

DELFT, NETHERLANDS: Veramaris, the DSM and Evonik joint venture that will revolutionize aquaculture with its sustainable omega-3 oil from natural mari ...

Read more
Re-thinking the liquid gold policy

In the last couple of years, the crude oil prices, production and supply has seen many a swing between upward and downward movement. This uncertainty ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X