Total Enters into Exclusive Negotiation alongsi...
Total Enters into Exclusive Negotiation alongside EDF for the Sale of Its Stake in the Dunkerque LNG Terminal
Total
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has decided to enter into an agreement to sell its 9.99% stake in the Dunkerque LNG terminal, as a part of a broader sale process initiated by EDF (65.01%) earlier this year. At the completion of the transactions two buyers, a consortium composed by Fluxys Europe B.V. (currently 25%), AXA Investment Managers and Crédit Agricole Assurances on one hand and another consortium composed of Samsung Securities Co. Ltd., IBK Securities Co. Ltd. and Hanwha Investment & Securities Co. Ltd on the other hand, will hold a 35.76% and 39.24% respectively. Closing is expected for the third quarter of 2018, once required regulatory approvals have been granted by the relevant authorities.
The Group will keep a regasification capacity right of around 1.5 million tons per annum.
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, a major player in low-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
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Cautionary note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms “Total†and “Total Group†are sometimes used for convenience where general references are made to TOTAL S.A. and/or its subsidiaries. Likewise, the words “weâ€, “us†and “our†may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
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