94.93% of Share Capital of Elf Aquitaine Held
TOTAL FINA SA
26 October 1999
Tour TOTAL
24 Cours Michelet
92800 Puteaux France
Tel : 33 (1) 41 35 34 75
Fax: 33 (1) 41 35 64 62
Isabelle GAILDFRAUD
Eve GAUTIER
Jean-Mary CASTILLON
Hans DAEMS
TOTAL FINA S.A
Societe Anonyme au
Capital de 3 494 074 360 euros
542 051 180 RCS Nanterre
Totalfina Holds 94.93% of Elf Aquitaine
Following the Close of the Public Exchange Offer
And Has the Largest Market Capitalization
On the Paris Stock Exchange
Following the October 15 close of the increased Public Exchange Offer
launched on September 23, Totalfina announced that it holds 94.93% of the
share capital of Elf Aquitaine.
This successful exchange offer represents a critical step in forming the
new Group Totalfina Elf. The new organization of the Group will not be
put in place until after the European Commission approves the
combination, which is expected by mid-February 2000.
The new Totalfina shares issued in exchange for the Elf Aquitaine shares
will be distributed as from October 28. The weight of Totalfina in the
CAC 40 index will be correspondingly increased, making Totalfina the
largest stock on the Paris exchange in terms of market capitalization. In
addition, the weight of Totalfina in the European indexes will increase,
and it will be added to various other indexes.
Totalfina is pleased with the success of the friendly exchange offer and
views the result as an expression of confidence on the part of the Elf
Aquitaine shareholders with regard to the outlook for the growth of the
new Group which will rank as the fourth largest major oil company in the
world.
At the close of the exchange offer, Totalfina has received 234,534,339
Elf Aquitaine shares and 39,621,478 Elf Aquitaine ADSs, which represents
globally 254,345,078 Elf Aquitaine shares. Including the 8,485,797 Elf
Aquitaine shares held by Elf Aquitaine which were not tendered, Totalfina
directly and indirectly holds 262,830,875 shares of Elf Aquitaine.
After making the exchange for the tendered Elf Aquitaine shares and ADSs,
Totalfina will have issued 371,735,114 new shares of its own for which
applications have been made on the Paris, London and Brussels exchanges.
The Totalfina ADSs exchanged for the Elf Aquitaine ADSs will be listed on
the New York Stock Exchange.
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