North Atlantic France Completes Acquisition Of Esso S.A.F., ExxonMobil Chemical France

KUALA LUMPUR, Dec 1 (Bernama) -- North Atlantic France SAS (North Atlantic France) announced the successful closing of its acquisition of an 82.89 per cent controlling interest in Esso Société Anonyme Française SA (Esso S.A.F.) at 26.19 euros per share and 100 per cent of ExxonMobil Chemical France SAS (EMCF) from ExxonMobil France Holding SAS (ExxonMobil), following a competitive auction process initiated in 2024. (1 Euro = RM4.79)

The transaction has received all required regulatory approvals, including French foreign direct investment authorisation and clearance under the European Union Foreign Subsidies Regulation.

Esso S.A.F. has been renamed North Atlantic Energies, marking a new chapter for the Gravenchon site in France’s energy and industrial landscape.

“This acquisition represents a major step forward in North Atlantic’s international expansion. Over the past four decades, we have successfully transformed and operated complex industrial assets across Canada, combining safety, performance, and sustainability.

“With the creation of North Atlantic Energies, we are proud to establish a bridge between North America and Europe which reflects our ambition to build a premier transatlantic energy group,” said North Atlantic Group President and Chief Executive Officer, Ted Lomond.

In a statement, North Atlantic reaffirmed its long-term commitment to the Gravenchon site, its employees, and France’s energy and industrial future.

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North Atlantic Energies will maintain high standards of product quality and service while continuing collaboration with ExxonMobil under long-term supply and technology agreements to ensure operational continuity, innovation, and reliability.

In addition, North Atlantic France will implement a simplified tender offer for the remaining North Atlantic Energies shares not already held by the company, at an offer price of 28.93 euros per share.

-- BERNAMA