02-05-2018
Axens crosses 95% Heurtey Petrochem shareholding threshold
Following the recent acquisition of Heurtey Petrochem shares at a unitary price per share of 30 euros, Axens announces that it crossed the 95% threshold of Heurtey Petrochem share ownership and now holds a total of 4,715,562 shares of Heurtey Petrochem, representing 95.9% of the share capital and 95.7% of the voting rights.
Therefore as indicated in the takeover bid initiated the 1st of December 2016, Axens confirms that it will be launching in the coming weeks a takeover bid followed by a squeeze out process for the remaining shares.
The takeover bid followed by the squeeze out process will require the compliance approval of the French Stock Exchange Regulator - AMF-. In conformance with the article 261-1 of the general AMF regulations, the Board of Directors of Heurtey will appoint an independent financial expert who will draw up a fairness opinion related to the financial conditions of the takeover bid followed by the squeeze out process.
Delisting the Company from the Stock Exchange market will allow to pursue and complete the integration process of the Heurtey Petrochem sales and operations within Axens and will enforce the leverage of technical and commercial synergies and value creation of the Axens Group.
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