Background ADNOC had announced its acquisition of 50% of Total Energies Egypt in a deal expected to reach $203.3 million.
The Deets B Investments has a 6.38% stake in Total Energies, in addition to other affiliated companies who hold a 9% stake in Total Energies.
B Investments is studying the possibility of using its pre-emption right to purchase Total Energies France’s stake in Total Energies Egypt which amounts to 34.62%. This right will hold the same terms as the ADNOC acquisition and will increase B Investments’ share to 50%.
What is pre-emption right? Pre-emption right is the right for a partner to buy another partner’s share without being exposed to harm.
The Deets (Continued) The second option that B Investments could pursue is to sell their shares to Total Energies France who will, in turn, sell their shares to ADNOC, or to list their shares in Total Energies Egypt on the market.