Home Featured TOTAL TAKES CONTROL OF SAFT GROUPE AFTER THE SUCCESSFUL TENDER OFFER WHICH WILL BE RE-OPENED FROM JULY 19 TO AUGUST 2, 2016
TOTAL TAKES CONTROL OF SAFT GROUPE AFTER THE SUCCESSFUL TENDER OFFER WHICH WILL BE RE-OPENED FROM JULY 19 TO AUGUST 2, 2016

TOTAL TAKES CONTROL OF SAFT GROUPE AFTER THE SUCCESSFUL TENDER OFFER WHICH WILL BE RE-OPENED FROM JULY 19 TO AUGUST 2, 2016

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The Autorité des marchés financiers (the “AMF”) published today the results of the public tender offer initiated by Total on Saft Groupe. Following the settlement-delivery of the offer which is expected to occur on July 21, 2016, Total will hold 23,456,093 Saft Groupe shares representing 90.14 percent of the capital and voting rights of Saft Groupe based on the total number of shares outstanding as of July 12, 2016. « Total is pleased with the success of this tender offer », said Patrick Pouyanné, 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.

The document relating to the offer is available on the websites of the AMF (amf-France.org) and Total (total.com), and is also available free of charge upon request at the offices of Total (La Défense 6, 2 place Jean Millier, 92400 Courbevoie) and BNP Paribas (16 boulevard des Italiens, 75009 Paris).

Source: Saftbatteries

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Anand Gupta Editor - EQ Int'l Media Network

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