Saverys launches offer to take Exmar private

Saverex, the holding company of the family of Nicolas Saverys, has formally launched an offer to take Exmar private.

According to a statement by Euronext Brussels-listed Exmar on Wednesday, Saverex launched its previously announced voluntary and conditional public takeover bid on all shares and stock options in Exmar which are not already directly or indirectly in the possession of Saverex or its affiliates.

Also, the initial acceptance period with respect to the offer will open on June 8 and closes on July 6.

The offer price is 12.10 euros per share ($12.9 per share) and 2.48 euros per share option.

Following the decision of the ordinary general meeting of Exmar of May 12 to pay a gross dividend of 1 euro per share, the offer price per share and the offer price per share option will be reduced accordingly to 11.10 euros per share and 1.48 euros per share option, it said.

Saverex currently owns 26,899,431 shares in Exmar (or 45.21 percent), while Exmar owns 2,273,263 treasury shares (or 3.82 percent).

Exmar’s executive chairman Nicolas Saverys owns 7,924 shares in Exmar (or 0.01 percent).

Conditions of the bid include that Saverex and its affiliates hold at least 95 percent of all shares in Exmar.

“The bidder intends to roll out an extensive long-term investment strategy focusing on the rejuvenation of its shipping fleet with a progressive transition into lower carbon fuels and a focus on the development of long-term infrastructure projects in logistic solutions for the import and export of gas, including liquefaction and regasification technologies,” according to the bid document.

It also intends to delist the Exmar share from the regulated market of Euronext Brussels.

“The bidder expects that the bid will have no substantial impact on the interests of the employees, their employment conditions or the employment opportunities,” it said.

Exmar operates a fleet of LPG carriers and owns the 26,000-cbm barge-based FSRU Eemshaven LNG, which serves Gasunie’s facility in Eemshaven.

Last year, Exmar sold its Tango FLNG to Eni and entered into a deal for the 2002-built steam turbine LNG carrier, Excalibur.

Most Popular

LNG carrier arrives to load first LNG Canada cargo

The 174,000-cbm GasLog Glasgow has arrived at the LNG Canada jetty in Kitimat to load the first LNG cargo produced at the Shell-led terminal, an LNG Canada spokesperson told LNG Prime on Saturday.

Knutsen, Shell name ninth LNG newbuild

Norwegian shipowner Knutsen and UK-based energy giant Shell have named the ninth and final LNG carrier in a series of 174,000-cbm vessels.

BP seals LNG SPA with Italy’s A2A

UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with Italian electricity and gas distributor A2A.

More News Like This

Saverys now owns 94.36 percent stake in Belgium’s Exmar

Nicolas Saverys and his family now hold 94.36 percent of Exmar shares following another attempt to take the Belgian gas shipping firm private.

Saverys fails in new attempt to take Exmar private

Saverex, the holding company of the family of Nicolas Saverys, has again failed to take Belgian gas shipping firm Exmar private. Saverex also decided to reopen the bid for a second acceptance period.

Saverys launches new takeover bid for Exmar

Saverex, the holding company of Nicolas Saverys' family, has launched a new public takeover bid for Belgium's Exmar as it attempts to take the shipping company private.

Exmar says Tango FLNG producing above guaranteed levels

Back in 2022, Exmar sold the FLNG to Italy's Eni for deployment in the Republic of Congo, also known...