Total offers to acquire Saft for USD1.1 billion

Saft’s supervisory board approves the acquisition

Total has filed a friendly tender offer on all of the issued and outstanding shares in the capital of Saft with the French Financial Markets Authority, according to a press release by Saft on 9 May. Total has offered EUR36.50 (USD41.6) per share, ex-dividend of EUR0.85 (USD0.96) per share, valuing Saft’s equity at EUR950 million (USD1.1 billion). Patrick Pouyanné, chairman and CEO of Total, said, "The acquisition of Saft is part of Total’s ambition to accelerate its development in the fields of renewable energy and electricity, initiated in 2011 with the acquisition of SunPower.”