North Atlantic reaches agreement to acquire Esso Société Anonyme Française and ExxonMobil Chemical France
In May of this year, North Atlantic France SAS entered into negotiations with ExxonMobil France Holding SAS for the acquisition of ExxonMobil’s entire stake in Esso Société Anonyme Française SA and ExxonMobil Chemical France SAS.
Today, North Atlantic announced it has entered into an agreement with ExxonMobil to acquire ExxonMobil’s entire stake in Esso S.A.F. and EMCF.
This marks an important step in North Atlantic’s project to establish a long-term presence in France, contributing to European energy security, industrial resilience, and energy transition.
The completion of the project remains subject to customary regulatory conditions applicable to this type of operation, including foreign direct investment control in France, and finalization of certain financing arrangements.
“Our commitment to France is long-term,” said Ted Lomond, president and CEO of North Atlantic, president of North Atlantic France. “By building on Gravenchon’s record of industrial excellence, we aim to strengthen energy security and resilience while accelerating the transition to lower-carbon solutions. This project reflects our ambition to grow North Atlantic into a premier transatlantic energy company, with strong foundations on both sides of the Atlantic.”
Simon Fenner, CEO of North Atlantic France added that “with the signing of this agreement, North Atlantic reaffirms its ambition to consolidate the Gravenchon site and provide it with an ambitious development plan to serve the French energy and industrial sectors. We are firmly committed to completing the transaction by year-end.”
