Paris: North Atlantic France has announced the successful completion of its acquisition, securing an 82.89% controlling interest in Esso Soci©t© Anonyme Fran§aise SA (Esso S.A.F.) at a price of £26.19 per share. The acquisition also includes 100% ownership of ExxonMobil Chemical France SAS (EMCF), both formerly part of the ExxonMobil group. This transaction followed a competitive auction process initiated in 2024.

According to BERNAMA News Agency, the acquisition has received the necessary clearances, including the French Foreign Direct Investment authorization and the EU Foreign Subsidies Regulation. Esso S.A.F. will now operate under its new name, North Atlantic Energies, signifying a new chapter for the company. North Atlantic France has reiterated its long-term commitment to the Gravenchon site and its employees, highlighting its dedication to France’s energy and industrial future.

Moreover, North Atlantic France plans to launch a mandatory tender offer for the remaining shares of Esso S.A.F., proposing a price of £28.93 per share. This strategic move underscores the company’s intention to consolidate its position and influence within the French energy sector.