(Reuters) – ESSO announced Wednesday that the US oil Major Exxonmobil has entered into exclusive negotiations with North Atlantic France for the sale of its majority participation of 82.89% in the French group.
The acquisition price of the control block would correspond to a price of 149.19 euros per share before any distribution by ESSO and the realization should take place during the last quarter of the year 2025, according to a press release.
Exxonmobil also undertook to ensure that Esso pays, in addition to the dividend of 53 euros scheduled for July 10, 2025, an additional distribution of up to 63.36 euros per share before the finalization of the operation.
After the planned acquisition, North Atlantic would file a compulsory public purchase offer for the remaining actions of Esso under financial conditions as the acquisition of block, added the press release.
The filing of the public purchase offer of North Atlantic should take place during the first quarter of 2026.
ESSO specifies that it has read North Atlantic’s intention to maintain employment as well as existing remuneration and advantages, adding to remain fully committed to continuing its exploitation and the supply of its customers without interruption.
On the Paris Stock Exchange, around 07:40 GMT, the share lost 6.7% at 142 euros, against a gain of 0.31% for the SBF 120 at the same time.
(Written by Elena Smirnova, edited by Augustin Turpin)
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