North Atlantic France Announces Tender Offer Schedule

KUALA LUMPUR, Feb 3 (Bernama) -- North Atlantic France SAS has completed the acquisition of ExxonMobil France Holding SAS’s (ExxonMobil) entire stake in North Atlantic Energies, formerly known as Esso Société Anonyme Française SA, representing 82.89 per cent of the company’s share capital and voting rights.

In accordance with French securities law, North Atlantic France announced on Nov 28, 2025, that it will file a simplified tender offer for the remaining shares of North Atlantic Energies not already held by the company, at a price of 28.93 euros per share, and intends to implement a squeeze-out procedure if the required conditions are met. (1 Euro = RM4.66)

The board of directors of North Atlantic Energies has appointed Ledouble SAS, represented by Agnès Piniot and Romain Delafont, as an independent expert to provide a fairness opinion on the financial terms of the offer.

In a statement, North Atlantic France said it will file the offer with the Autorité des marchés financiers (AMF) after completion of the independent expert’s work and following the publication of North Atlantic Energies’ 2025 annual results, scheduled for March 26, 2026.

The filing is expected in the second quarter of 2026, and the offer will only open after the AMF issues its compliance decision.

North Atlantic has been a market leader in Newfoundland and Labrador’s retail gas, convenience, and fuel sectors for nearly 40 years. Serving domestic, commercial, and industrial clients—including global marine bunkering customers—North Atlantic is known for delivering quality products and services.

The company is committed to strategic growth, green energy solutions, and fostering economic development, while providing innovative fuel and convenience retail initiatives across Canada and beyond.

-- BERNAMA