KUALA LUMPUR, Oct 29 (Bernama) -- North Atlantic France has raised the price of its mandatory tender offer for the shares of North Atlantic Energies it does not already own to 75 euros per share. (1 Euro = RM4.54)
The company said in a statement that the increase followed in-depth discussions with the independent expert, Ledouble SAS.
On Nov 28, 2025, North Atlantic France completed its acquisition of 82.89 per cent of the share capital and voting rights of Esso S.A.F., since renamed North Atlantic Energies, at 26.19 euros per share. It had initially set the offer price at 28.93 euros per share.
The company also reaffirmed its June 8, 2026, statement that it would not seek a squeeze-out procedure, under which remaining minority shareholders would be compelled to sell their shares as part of the offer.
The offer, made under the simplified procedure, will be filed with France’s financial markets regulator, the Autorité des marchés financiers (AMF), in November 2026.
The offer documentation, including the independent expert’s fairness opinion on the financial terms, will be submitted to the AMF for review, and the offer will open once the regulator has issued its compliance decision.
-- BERNAMA
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