North Atlantic France To Launch Tender Offer For Remaining North Atlantic Energies Shares

KUALA LUMPUR, June 8 (Bernama) -- North Atlantic France announced its plans to launch a simplified mandatory tender offer for the remaining shares of North Atlantic Energies that it does not already own, offering 28.93 euros per share. (1 Euro = RM4.66)

The announcement follows North Atlantic France's acquisition of an 82.89 per cent stake in the company, formerly known as Esso S.A.F., which was completed on Nov 28, 2025, at a price of 26.19 euros per share.

In a statement, the company said it will not seek to implement a squeeze-out procedure as part of the offer, allowing remaining shareholders to retain their holdings if they choose not to tender their shares.

North Atlantic France said the offer will be filed with the Autorité des marchés financiers (AMF) after the completion of an independent expert's review.

Offer documentation, including the independent expert's fairness opinion on the financial terms of the transaction, will be submitted to the AMF for approval. The offer will open only after the AMF issues its compliance decision.

North Atlantic France is part of Canada-based North Atlantic, an energy and fuel distribution company with operations spanning fuel retail, wholesale distribution and marine bunkering services.

-- BERNAMA