Saverys plans to take Exmar private

Saverex, the holding company of the family of Nicolas Saverys, plans to take Exmar private as part of a deal worth 366.8 million euros ($397 million).

According to a statement by Euronext Brussels-listed Exmar on Monday, the firm has been informed that Saverex intends to launch a voluntary and conditional public takeover bid for all shares and share options issued by Exmar not already owned by it or persons affiliated with it.

Also, the bid would be made at a price of 12.10 euros ($13.11) per share, and would be paid in cash.

The price per share represents a premium of 24.74 percent to the closing price of Exmar as at March 31, 2023.

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).

The bid would thus relate to the remaining 30,319,382 shares (or 50.96 percent) in Exmar, the firm said.

Exmar said that its board of directors has unanimously resolved to support and recommend the bid.

The company 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.

- Advertisements -

Most Popular

Adnoc picks South Korean yards to build six LNG carriers

UAE’s energy giant Adnoc has selected two South Korean shipbuilders to build six liquefied natural gas (LNG) carriers following...

Aethon to buy Tellurian’s upstream assets for $260 million

Dallas-based private investment firm Aethon Energy Management has agreed to buy Tellurian’s integrated upstream assets for $260 million. The...

Golar says progress made on new FLNG deal

Floating LNG player Golar LNG is working to sign definitive agreements for an up to 20-year FLNG deployment. In February,...

More News Like This

Italy’s Piombino FSRU set to receive first cargo from Eni’s Congo LNG project

Italy’s Eni is expected to deliver soon the first liquefied natural gas cargo produced at its Tango floating LNG...

Eni to ship Congo’s first LNG cargo

Italy’s Eni will soon ship the first liquefied natural gas cargo from its Tango floating LNG facility moored in...

Eni’s Congo FLNG gets first gas supplies

Italy’s Eni has introduced the first gas into its Tango floating LNG (FLNG) facility moored in Congolese waters. Eni said...

Exmar names Carl-Antoine Saverys as new CEO

Belgian shipowner Exmar has appointed Carl-Antoine Saverys as its new chief executive officer. Carl-Antoine Saverys will take over formally as...