Total now holds 95.37% of Direct Energie

Adani Group

French energy giant, Total SA said it now holds 95.37% stake in Direct Energie.

This was as a result of its acquisition of a 73.04% stake in the share capital of Direct Energie at €42 per share.

The result was published by the Autorité des marchés financiers (AMF) yesterday, showing that Total S.A. has acquired, at the same price, 9,354,390 shares under the centralized procedure managed by Euronext Paris and 1,011,888 shares on the market.

Total will hold 44,417,802 shares of Direct Energie representing 44,820,386 voting rights, i.e. 95.37% of the share capital and at least 95.33% of the voting rights of this company.

Once the settlement of the shares tendered into the offer has been completed, Total said it intends to request the implementation of the squeeze-out procedure in accordance with the terms of its public tender offer of July 26, 2018 at a price of €42 per share.