Paris: North Atlantic France SAS has announced a significant move in its acquisition process involving North Atlantic Energies. The company aims to consolidate its control after acquiring ExxonMobil's entire stake, which constitutes 82.89% of North Atlantic Energies' share capital and voting rights.

According to BERNAMA News Agency, North Atlantic France has declared its intention to file a simplified tender offer for the remaining shares of North Atlantic Energies not already owned by them. The offer is set at a price of pound 28.93 per share. Additionally, the company has expressed its plan to execute a squeeze-out procedure, contingent upon meeting the necessary conditions, to acquire full ownership.