Axens announces a draft Squeeze Out Offer for Heurtey Petrochem Shares

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Axens, majority shareholder of Heurtey Petrochem holding to date 95.9% of the shares and 957% of the voting rights, announces a draft squeeze out offer for Heurtey Petrochem's shares, shortly filed at a unitary price of 30 euros.

This offer follows logically the friendly takeover bid on Heurtey Petrochem shares, filed by Axens in October 2016 and closed the 27th January 2017.

The Board of Directors of Heurtey Petrochem will provide a reasoned opinion in accordance with the procedures provided for by the regulations in force. It will be supported by corporate finance specialist “SORGEM Evaluation”, appointed today as independent expert. The report of the independent expert and the reasoned opinion of the Board of Directors of Heurtey Petrochem will be published in the draft common note which will be jointly drawn up by Axens and Heurtey Petrochem and submitted to the French financial markets authority (AMF) for approval.

The trading of Heurtey Petrochem shares on the Euronext Growth market is suspended since the 4th of May 2018.

About Axens Group
Following the acquisition of a majority stake in Heurtey Petrochem’s capital and the integration of 50% of Eurecat, Axens Group ( 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 ( 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.