UPDATE: North Atlantic France SAS has announced a significant downward adjustment of €141,555,511.67 in the acquisition price for its contemplated majority stake in Esso Société Anonyme Française SA. This urgent development follows the company’s share purchase agreement with ExxonMobil, as the final price per share will be dramatically reduced due to changing market conditions.
Earlier today, North Atlantic confirmed that the price per share will drop from €149.19 to an estimated €24.97 following a series of adjustments. The primary factors for this adjustment include the decline in Brent crude prices and the appreciation of the euro against the U.S. dollar, leading to a decreased valuation of Esso’s inventory.
The downward adjustment breaks down as follows: an initial decrease of €11.01 per share related to inventory value and a further €53.00 per share reduction due to a dividend distributed by Esso on July 10, 2025. Additionally, an anticipated distribution of €60.21 per share, pending shareholder approval on November 4, 2025, will further impact the valuation.
North Atlantic’s acquisition, which involves an 82.89% interest in Esso, is still subject to customary regulatory approvals, including foreign investment controls in France. Completion of this transaction is expected by the end of 2025.
In a statement, North Atlantic reiterated its commitment to a seamless transition, emphasizing plans to maintain employment and existing compensation for Esso employees. This acquisition represents a strategic move for North Atlantic as it aims for growth in the energy sector amid fluctuating market dynamics.
As the situation develops, stakeholders are urged to stay informed about further adjustments and the final acquisition price, which will be communicated to the market in due time. The urgency of this announcement highlights the volatile nature of the energy market and its direct impact on corporate valuations.
For ongoing updates, follow North Atlantic’s communications or consult with your financial advisor regarding this significant transaction.
