Total: acquires 73% stake in Direct Energie - bids for rest
(CercleFinance.com) - Total and Direct Energie have announced that Total has finalised its acquisition of 73.
04% of Direct Energie's capital, based on a price of 42 euros per share, or about 1.4 billion euros in all.
The acquisition was followed on the same day by Total filing a compulsory takeover bid on the remaining shares that it does not already hold. This will be submitted for approval by the AMF. The price is the same, i.e. 42 euros per share.
“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 Caïtucoli, Chairman and CEO of Direct Énergie.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
04% of Direct Energie's capital, based on a price of 42 euros per share, or about 1.4 billion euros in all.
The acquisition was followed on the same day by Total filing a compulsory takeover bid on the remaining shares that it does not already hold. This will be submitted for approval by the AMF. The price is the same, i.e. 42 euros per share.
“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 Caïtucoli, Chairman and CEO of Direct Énergie.
Copyright (c) 2018 CercleFinance.com. All rights reserved.