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Crossing of the 95 percent Heurtey Petrochem shareholding threshold by Axens

MAY 2 - 2018
Crossing of the 95% Heurtey Petrochem shareholding

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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About Axens Group

Following the acquisition of a majority stake in Heurtey Petrochem’s capital and the integration of 50% of Eurecat, Axens Group (www.axens.net) is ideally positioned to cover the entire value chain, from feasibility study to unit start-up and follow-up throughout the entire unit cycle life. Axens Group provides a complete range of solutions including: technologies, equipment, furnaces, modular units, catalysts, adsorbents and services for the conversion of oil and biomass to cleaner fuels as well as production and purification of major petrochemical intermediates. The offer covers all of natural gas' treatment and conversion options. This unique range of solutions ensures the highest level of performance with a reduced environmental footprint. Axens Group’s global offer is based on: highly trained human resources, modern production facilities and an extended global network for industrial, technical supports & commercial services.

 

About Heurtey Petrochem

Heurtey Petrochem (www.heurtey.com) is a global oil and gas engineering group operating across two market segments:

  • Process furnaces for refining, petrochemicals and hydrogen production. Petrochem is one of the global leaders in this segment.
  • Natural gas processing via its Prosernat subsidiary. In this sector, the Group operates in both EPC engineering and as a technology licensor.

Heurtey Petrochem operates via a large international subsidiary network, with a presence in Brazil, China, South Korea, the United States, India, Malaysia, Romania and Russia. The group generated revenues of €235 million in 2017. Heurtey Petrochem is tracked on the Euronext Paris Alternext market (ISIN: FR0010343186, Mnemo: ALHPC). Axens holds 95.9% of Heurtey Petrochem.