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Total completes the acquisition of 73% of Direct Energie

Total and Direct Energie announce the completion of the acquisition by which French energy group Total will take over 73.04% of the share capital of Direct Energie for €1.4 billion.

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Total completes the acquisition of 73% of Direct Energie

The deal was followed today by the filing by Total of a mandatory tender offer for the shares in Direct Energie that are not yet held by Total, at the same price of 42 euros per share.

“The Board of Directors unanimously recommends to Direct Energie’s shareholders to tender their shares. This operation is indeed extremely positive for Direct Energie, its teams and clients”, said Xavier Caïtucoli, Chairman and CEO of Direct Énergie.

Operating in France and Belgium, Direct Énergie supplies electricity and gas to over 2.6 million residential and non-residential customer sites. It also produces electricity through renewable production facilities (onshore wind, solar, hydraulic, and biogas) and flexible plants.

“This operation allows us to accelerate our integration downstream along the full gas and power value chain and to reach critical mass in the French and Belgium markets where we are growing fast”, declared Patrick Pouyanné, Chairman and CEO of Total.

The composition of Direct Énergie’s board of directors was modified in order to take into account the new shareholding structure.

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