Total to Acquire Saft Group
Total and Saft announced today that, following the signature of an agreement between the companies, Total filed a friendly tender offer on all of the issued and outstanding shares in the capital of Saft with the French Financial Markets Authority (Autorité des Marchés(“AMF”)). The proposed offer will target all of Saft’s issued and outstanding shares at a price of €36.50 per share, ex-dividend of €0.85 per share, valuing Saft’s equity at €950 million. The offer price represents a 38.3% premium above Saft’s closing share price of €26.40 on May 6, 2016, a premium of 41.9% above the volume weighted average share price over the past six months and a premium of 24.2% above the volume weighted average share price over the past year.
Success of Technip's Offer on Coflexip
Coflexip Stena Offshore announced today that following the publication by the French Financial Markets' Board of the results of the public offerings of Technip on Coflexip's share capital, Technip now holds 98.36% of Coflexip and 98.54% of its voting rights. In its July 25 meeting, the Board of Directors of Coflexip had recommended that Coflexip shareholders tender their shares to Technip's offer. CSO, the leading global contractor for subsea and deepwater solutions to the offshore oil and gas industry, offers technically advanced and cost-effective best in class services and products for the development of offshore hydrocarbon fields worldwide.
